GBP/USD

This market is in a downtrend, so we want to look for selling opportunities. Traders can take advantage of this recent range by either selling near the 1.45276 high or waiting for a break down through the 1.42261 low before selling. Protective stops should be above the high or if selling on the break down through support, a lower resistance level on the hourly chart might offer a lower stop level to keep the risk smaller.