Orion-FX

GBP/USD A Double Top And Correction Due?

Short
OANDA:GBPUSD   British Pound / U.S. Dollar
Here we can see cable reach a strong resistance level and forming a double top . Although the state of the current economic climate is unpredictable at best, after the last 14 days of bullish bars a correction is due. With buyers cashing profits, a response from the US and perhaps some more Brexit talks, a pull back to the 1.26/1.27 is definitely a likely prospect. We have taken an intra day short order from this resistance zone and will hold for 200/300 pips.

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