GBPUSD Short / Doom Drop incoming?
The decision of the Brexit Referendum resulted in the key price level of 1.43 to be broken in 2016.
This support turned into resistance and the price successfully rejected the price in the beginning of the year.
A nice short opportunity presents itself: Wait for the weekly candle to close below 1.2730
First Take Profit 1.2509 (0.786 FIB retracement level) (conservative TP)
Second Take Profit 1.2251 (all time low) (good TP)
Third Take Profit 1.0011 (risky TP)
This support turned into resistance and the price successfully rejected the price in the beginning of the year.
A nice short opportunity presents itself: Wait for the weekly candle to close below 1.2730
First Take Profit 1.2509 (0.786 FIB retracement level) (conservative TP)
Second Take Profit 1.2251 (all time low) (good TP)
Third Take Profit 1.0011 (risky TP)
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