Bearish on cable
The 1 hour chart on GBPUSD shows price returning to the middle Bollinger Band after the strong move down on Friday. It has failed to close above the middle band with a very bearish candle closing at 10am UK time. I'm looking to sell if it moves below the low of this candle.
I see it up to about 1.46000, but that's definitely longer term. If it opens near where it closed yesterday, you could buy and probably eek out about 40 points, short term. I'm definitely looking to buy if Friday's lows are tested.
It didn't quite test the Friday lows where I wanted to buy, but I was correct in the direction. I definitely see 1.46 here in the next couple weeks but there are plenty of longs and shorts between now and then.