GBP/USD Short Setup – Rejection from Resistance Zone with High R

EMA 30 (red line)

EMA 200 (blue line)




---

Key Levels:

Entry Point: 1.31324

Stop Loss: 1.32303

Target (TP): 1.28102



---

Analysis:

1. Trend Context:

The market shows a recent bullish move approaching a key resistance zone (highlighted in purple).

The price is now reacting to that resistance zone and potentially forming a reversal.



2. EMA Insight:

Price is currently trading slightly above the EMA 200 and EMA 30, indicating short-term bullish momentum.

However, the suggested trade setup appears to be short (sell), anticipating a reversal from resista