Watching the GBP/USD chart has to make you feel like looking at the Titanic at it's final hours becouse the price has been sinking since the last week, and we were waiting for it to find the support. Well it did find it, only short term probably, right now its at 1.2919 which we used as our swing low point for the Fibonacci tool. There is a lot of uncertainty with the GBP economy, the interest rate has been lifter for 0.25% but so far that's not helping the sterling, forex market wise. If the bulls hold on, we are looking to sell it at the 1.2993-1.3005 which should be a good appreciated price ready to show us some more Titanic moves. As always look for the right price reversal confirmations before entering your trades and good luck!
Trade active:
You can look for more aggresive sell positions in the 1.2960-1.2965 area
Trade closed manually:
Take 10-15 pips profit with half of the position and set the other half on brake even.
