Tickmill
Short

GBPUSD has formed a double top reversal, watch for the drop!

FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD             has formed a double top reversal and is starting to drop nicely after breaking our major support-turned-resistance level at 1.3992 ( Fibonacci retracement , horizontal overlap resistance, breakout level) where further bearish momentum could be expected to drive price down to major support at 1.3632 ( Fibonacci extension , double top exit potential, horizontal pullback support).

RSI (55) has made a bearish exit of our long term ascending support-turned-resistance line signaling a potential strong change in momentum to bearish .

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This analysis is provided as general market commentary and does not constitute investment advice.
Thanks for the teachings Tickmill
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good analysis
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