GBPUSD testing major resistance, prepare to sell
Sell below 1.3319. Stop loss at 1.3427. Take profit at 1.3161.
Reason for the trading strategy (technically):
Price has started to react strongly off major resistance at 1.3319 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and we expect to see a strong drop below this level to push price down to at least 1.3161 support (Fibonacci retracement, Fibonacci extension).
Stochastic (89,3,1) is seeing strong resistance below 99% and is turning down nicely signalling that a reversal is in action.
Reason for the trading strategy (technically):
Price has started to react strongly off major resistance at 1.3319 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and we expect to see a strong drop below this level to push price down to at least 1.3161 support (Fibonacci retracement, Fibonacci extension).
Stochastic (89,3,1) is seeing strong resistance below 99% and is turning down nicely signalling that a reversal is in action.
Trade fermée: cible de profit atteinte:
once again... PIPS IN OUR POCKETS! WHOO!