I expect a small GBP retracement after last Friday's drop; however UK's weekend news was pretty bad (politics & COVID) so I'm not sure whether it will retrace that much to my sell price. A more risky sell level is around 1.3894 area but I'm not going to risk on it because I have already got a trade entered last week at 1.395. This week there's NFP from US so the TP target level may also not hit if GBPUSD tunes into ranging mode. If target 1.38 is hit, walterfall will be almost certainly follow. There's still a bit room for the price retrace back to hit the sell price, so there's a potential buy opportunity for some pips, but again I'm not going to risk it. GL.
