GBPUSD reversed off its resistance at 1.3164 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it could drop further to its support at 1.3065 (horizontal swing low support). Stochastic (55, 5, 3) reversed off its resistance at 97% where a corresponding drop could occur.
definately a drop. RSI day, 4h confirm too high and should fall. nothing can increase forever
muhammadyahya
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Short on this too, down we go!
ccalvin901
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Hi, I am also short on this pair. The reverse off resistance your speaking of shows on h4 on down. I think this is a good risk to reward for me. My stop loss is above the 2nd resistance level. I would have like to have waited for a good retest of the bearish push off resistance before getting in. Taken that into consideration I am prepared for a 2nd entry at around 100% retest level of that h1 bearish push from resistance.
Maestro017
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@ccalvin901, Hi..i think GBPUSD will go to 1.2940-50 Zone..from here i am waiting for up move to 1.33 with sl at 1.2770..
ccalvin901
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@Maestro017, Do you mind sharing why you think the bearish will push that low? I would love to take profits at that level but need more confirmatio