JamesZhang

GBP/USD Mid-Term Analysis Target:1.54580

FX:GBPUSD   British Pound/U.S. Dollar
298 7 6
I see a good chance to sell GBP/USD             right now.
The resons as following:

1 / The price broke the Rising Channel on June 23 .
2 / The price broke All the Moving Average Lines of 5/14/30/60 on June 23 too, and has already formed a great Death Cross.

Attention: The price made a higher low point on June 2 and a new higher high point on June 18 in DAY Chart.

Anyway, I'm inclined to sell it when pull back to point of 60days MA line , about 1.57900.
First Target : The former Low point as well as the 61.8% retracement , that is 1.54580.
The price just follow the analysis step by step.
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I'm looking forward to see it reach retracement of 61.8%
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I agree with your analysis as it matches mine. I got in late though at the 38.2 fib.
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JamesZhang martinium
good luck and keep focus on the market.
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Target completed.
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Very nice analysis !
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Thanks your comment.
Have a good day.
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