jerryren87

GBPUSD testing strong resistance. 2 possible trade setup

FX:GBPUSD   British Pound / U.S. Dollar
29 1 0
This is the 4th time this level has been tested since May 2015, There are 2 possible set ups that may take place here.

1 - if the level 1.5125 is broken, then there is potential downside to the next resistance level , which is located at 1.49772.

2 - with, in my opinion, equal probability, the price will rebound back up again with a strong fundamental news once the reversal breaks 1.5220, then reversal can be verified, and the next target would be 1.5322.
agree, I see also green channel support and daily RSI & MACD divergence, if this level holds, we will see a strong up move

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