TradingView
MEX_Exchange
Sep 29, 2017 2:49 AM

GBPUSD approaching major resistance, remain bearish Short

British Pound/U.S. DollarFXCM

Description

Sell below 1.3463. Stop loss at 1.3533. Take profit at 1.3319.
Reason for the trading strategy (technically):
Price has broken major support and we look to sell from the pullback resistance at 1.3464 (Fibonacci retracement, horizontal overlap resistance) for a push down to at least 1.3319 support (Fibonacci retracement, horizontal pullback support).
Stochastic (21,5,3) is seeing major resistance below 98% and we expect a strong reaction off this level.
More