During the last few days, GBP/USD was testing the upper limit of the bearish channel & its resistance at 1.5638 which is previous consolidation zone limit.
The view is still bearish now, as we had bearish confirmation of the price action towards the mentioned resistance levels on 4H chart manifested in the long upper tail & the hammer candlestick.
This was our suggested SHORT position at 1.5640 then We mentioned that we need to see quick decline below the broken downtrend marked in blue in order to resume the downside movement.
TP should be at 1.5555, 1.5470, 1.5420 & 1.5360 & we got our 1st TP level hit short time ago, Now some profits should be taken & wait for the next levels to be hit.
For those who didn't catch the trade, SELLING at 1.5595 will be good if visited with the same TP levels & SL daily closure above 1.5675.