GBP/USD: the most simple idea you will see today

As it can be inferred from the 2H timeframe chart, the price has been consolidating within the borders of a sideways-moving range for quite a while. From the recent price movement, we can observe that the bearish rally that has happened recently gives enough confidence that the price may keep pushing even lower.

We are eyeing the zone of support (recent low) indicated on the chart and looking forward to entering short positions.