FBSAnalytics
Short

GBP/USD: pound is afraid of a “Shark”

NASDAQ:AAPL   APPLE INC.
FX:GBPUSD            

SELL 1.3340
SL 1.3395
TP1 1.3255 TP2 1.324 TP3 1.3225

On the daily chart of GBP/USD             , the “Double top” is transforming into 5-0 . The inability of bulls to get above resistance at 23.6% of the wave CD and return to the 1.3455-1.3615 consolidation range points at their weakness. To develop correction to the long-term uptrend, bears need to renew May low. On H1 of GBP/USD             , a decline below support at 1.3340 will increase the risks of a “Shark” pattern with a target of 88.6% near 1.3225.

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