Bearish candle at the 1.40 resistance level, more drop ahead?
As mentioned yesterday, GBP/USD's rally has stopped at the 1.40 resistance level
and a bearish candlestick has formed in the critical area.
Does that indicate that there is more drop ahead?
Well, so far, there has not been any meaningful recovery today.
So, sellers can continue to hold their sells for 1.38 initial target.
New sells can be executed between 1.3940-1.3970 with SL above 1.40
and target at 1.37 if the bearishness persists.
and a bearish candlestick has formed in the critical area.
Does that indicate that there is more drop ahead?
Well, so far, there has not been any meaningful recovery today.
So, sellers can continue to hold their sells for 1.38 initial target.
New sells can be executed between 1.3940-1.3970 with SL above 1.40
and target at 1.37 if the bearishness persists.
Trade active:
Sold at 1.3945 again
Comment:
Sell trade in 90 pips profit