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theforexarmy

GBPUSD reached profit target, turn bearish

Long
British Pound / U.S. Dollar (FX:GBPUSD)  
theforexarmy  
FX:GBPUSD   British Pound / U.S. Dollar
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Sell below 1.2546. Stop loss at 1.2632. Take profit at 1.2356.
Reason for the trading strategy (technically):
Price has bounced and reached our profit target from yesterday. We turn bearish below 1.2546 resistance (Fibonacci retracement horizontal overlap resistance) for a push down to 1.2356 support (Fibonacci retracement, Fibonacci projection, swing low support).
RSI (34) is seeing strong descending resistance holding price down.

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theforexarmy
GBPUSD right on resistance, remain bearish
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GBPUSD bouncing nicely, remain bullish
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