theforexportal

GBPUSD Market SELL at 1.2768

Short
FX:GBPUSD   British Pound / U.S. Dollar
Considerable headwinds are gathering for GBPUSD with 1.27 sitting right on the 200 day sma and double resistance at 1.2781 coming in the shape of recent highs and 23.6 Fibonacci.
These two targets look a long way away with overbought pressure building and we favour a move south from these levels before the BULLS can gather for another run higher.

Comment: SHORT from 1.2568 (sorry about the typo) - CLOSE at market 1.2491 for 75+