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theforexarmy

GBPUSD below major resistance, remain bearish

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
theforexarmy  
FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD gbpusdshort gbpusdidea gbpusddaily gbpusdnews gbpusdlong USD GBP gbpusdanalysis gbpusd1hr gbpusdlongsetup gbpusdsell gbpusdtrade
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gbpusd gbpusdshort gbpusdidea gbpusddaily gbpusdnews gbpusdlong usd gbp gbpusdanalysis gbpusd1hr gbpusdlongsetup gbpusdsell gbpusdtrade
Sell below 1.2481. Stop loss at 1.2527. Take profit at 1.2390.
Reason for the trading strategy (technically):
We remain bearish below 1.2481 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) for a push down to 1.2390 support (Fibonacci extension, horizontal support).
RSI (34) remains below long term descending resistance.

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