GBPUSD MARKET ANALYSIS

 Good morning traders it's another new week in the financial markets meaning new opportunities too. I hope you all had a wonderful weekend and are ready to tackle the markets this week. Into the charts, GBPUSD price rallied to a key daily chart supply zone at 1.19706 & 1.18328 which is the origin of the previous drop to the major daily chart demand zone at 1.06583 & 1.03951. Price has filled the major daily range from the key daily chart supply to the key daily chart demand and back to supply. Price rallied into supply, formed a strong rejection wick on H1 & H4 with candle close inside supply followed by a drop to the 1st H1 low at 1.17644 after which price rallied back into supply. Price failed to take out the H1 high at 1.19320 and instead pushed lower even though with very little momentum hence closing the previous market week at 1.18844 inside supply and showing potential shorts into the new week. I set pending sell limit orders at 1.19270 with SL at 1.19870 where I anticipate price will reverse from during London session for the start of the week's trend but also took aggressive sell entries at 1.18853 with SL at 1.19700.
Setup is a rally base drop, a reversal setup.