GBPUSD MARKET ANALYSIS

 Good morning traders, I hope you're all doing well and you're deeply emerged into the opportunities presenting themselves in the financial markets. Into the markets today, I'm looking at GBPUSD where price rallied back to the previous H1 high at 1.27870 and failed to break it hence filling the 1st H1 & H4 range from the H1 high to the H1 low at 1.26850 and back to the H1 high at 1.27870, below the key H1 & H4 supply zone at 1.28533 & 1.28072 which is the origin of the previous drop. Took sell positions during London session at 1.27644 with SL at 1.28000. Setup taken is a rally base drop, a reversal setup and my target is at the H1 low at 1.26900. 

Price dropped 40 pips in 2 strong H1 bearish candles to 1.27375 confirming the bearish sentiment and still showed more bearish potential. Price gained bearish momentum during NY session dropping 60 pips to 1.27120. However, price failed to get to my target and instead retraced hence closing out my positions to wait for clear structure tomorrow.