GBPUSD under NEGATIVE Pressure

FX:GBPUSD   British Pound / U.S. Dollar
69 0 1
As expected the GBPUSD             pair moved down as I mentioned in my previous analysis that a valid SELL entry can be offered around 1.30000. More weakness in the pair is expected in the upcoming sessions as bears are entering heavily in the market. GBPUSD             is having a negative pressure and price is expected to move down towards 1.28400 area. In the longer term perspective I expect the pair to move towards 1.24000-1.22000 area and that will only happen if the price closes below 1.27800 on daily basis. Only a move above 1.36400 will stop this overall bearish trend .

TRADING RECOMMENDATIONS: Sell at 1.29800 with stop loss above 1.30600, Target is 1.28400

Good Luck
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