GBP/USD Sell Opportunity

The pound has been dropping since June 2021. In the last six months, the pound has not been able to break the trendline resistance and support the trendline.

Currently, the GBP/USD is hovering close to trendline resistance. More than 450+ pips have risen from trendline support in the last 20 days. That's why I am expecting that market may have some corrections.

We should not sell if only the market stays at the resistance level. We can keep in sell mode from the resistance level only when the market creates a bearish pattern.

We will enter a sell position only when the GBP/USD creates a bearish pattern from the trend line resistance.

If the GBP/USD closes below the current level of 1.3472, we can think of the sell position as well. Because breaking below the 1.3472 will confirm immediate support trendline breakout, or if we see the pound tested 1.3610 / 20 rate, we can also execute our sell order with 80/100 pips stops.