I examine weekly chart.

gbpusd-w

Last week chart show nice bearish outside bar, which is very powerful signal and it does not fail many time. When we go 20 bars to the left, we can notice bullish outside bar. If we waited for 38% retrace on that bar, we could gain 800 pips in 4 weeks. Now we also have potential to gain round 800-900 pips. One option is, that we wait at least on 38.2% retrace on last weeks bar. If we will not get such a retrace, we could enter at the close or low of weekly outside bar and place round 150 pips SL. We should look for short entry signal on daily, 4h and 1h chart.

On Monday there is no major red news in UK and USA.

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