Recently, Gbp broke out below the rising wedge, headed short and even broke below the next support line 1.2842. This is a bearish signal and since the first retracement to the just broken line was an inside bar candle, I expect the price to pullback to this line for the second time to pick a short position. On the 4 hour chart above, short positions looks more ideal and can be recommended. My advice, wait for a pullback towards 1.2842 and pick a short position here.
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