GBPUSD remain bearish below major resistance
Sell below 1.2933. Stop loss at 1.2988. Take profit at 1.2854.
Reason for the trading strategy (technically):
Price continues to hold perfectly below our selling area. We remain bearish looking to sell below 1.2933 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push down to 1.2854 support (Fibonacci retracement, horizontal swing low support).
Stochastic (55,5,3) is seeing a very nice bearish exit signalling that a drop is impending.
Reason for the trading strategy (technically):
Price continues to hold perfectly below our selling area. We remain bearish looking to sell below 1.2933 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push down to 1.2854 support (Fibonacci retracement, horizontal swing low support).
Stochastic (55,5,3) is seeing a very nice bearish exit signalling that a drop is impending.