GBPUSD - SELL IDEA

The GBP/USD pair on the 15-minute chart is setting up for a potential short opportunity. After completing wave (5) of the current upward impulse, the market is showing signs of a possible reversal. The corrective wave (a) is likely to begin, targeting several Fibonacci retracement levels.

I'm particularly watching the 0.254 Fibonacci retracement level at 1.31214 as the first target for this downward move, with further potential to reach 0.382 at 1.31137, and possibly extending down to 0.618 at 1.30994.

This setup suggests that the bullish momentum is fading, and a corrective phase might be in play, offering a strategic shorting opportunity with a clear risk management plan. The key here is to monitor how the price reacts at these Fibonacci levels to determine the strength of the potential reversal.