GBPUSD Reversed Off Resistance, Prepare For Further Drop
Sell below 1.3164.
Stop loss at 1.3221.
Take profit at 1.3065.
Reason for the trading strategy (technically):
GBPUSD reversed off its resistance at 1.3164 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to 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 is expected.
Stop loss at 1.3221.
Take profit at 1.3065.
Reason for the trading strategy (technically):
GBPUSD reversed off its resistance at 1.3164 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to 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 is expected.
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