GBPUSD below major resistance, remain bearish
Sell below 1.2481. Stop loss at 1.2527. Take profit at 1.2390.
Reason for the trading strategy (technically):
We remain bearish below 1.2481 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) for a push down to 1.2390 support (Fibonacci extension, horizontal support).
RSI (34) remains below long term descending resistance.
Reason for the trading strategy (technically):
We remain bearish below 1.2481 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) for a push down to 1.2390 support (Fibonacci extension, horizontal support).
RSI (34) remains below long term descending resistance.
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