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In terms of relative strength, GBPUSD is one of the weaker currencies recently. Thus I’m favoring shorts on this pair.
On daily we can see price is in a downtrend with clear lower highs and lower lows established.
On 4 hour we see price respecting the 50 EMA here.
Traders can look to sell if price retrace towards 50 EMA or look to short a breakout to the downside.