quantguy
Short

GBPUSD Shorting Opportunity

FX_IDC:GBPUSD   Pound Sterling/U.S. Dollar
Lower highs on the day chart note that the GBP is struggling to maintain footing. Further, the strong resistance from above by the Ichimoku cloud casts doubt on any bullish rallies. The RSI and MACD indicators suggest that this is an optimal time to enter a position. The Fibonacci retracement gives us some profit targets and stop losses, as well as a level at 1.5373 that could serve as a trigger to execute the short order.

On the fundamentals side, the attached forecasts a rally in the dollar. This was confirmed at about 3 am this morning when the dollar rallied against all majors around 3 am.
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