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MEX_Exchange

GBPUSD major support broken, look to sell on strength

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
MEX_Exchange  
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns GBPUSD GBP USD gbpusdshort gbpusdlong gbpusdsignal gbpusdtrade Forex forextrading
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trendanalysis harmonicpatterns chartpattern gbpusd gbp usd gbpusdshort gbpusdlong gbpusdsignal gbpusdtrade forex forextrading

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 (34,5,3) is seeing a long term descending resistance keeping us in a bearish bias.
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