GBPUSD - Sell at 1.3905 and 1.3939 (stop 1.3973), Wednesday

Yesterday's bearish forecast was confirmed as Monday’s upside rejection deepened. In fact our first weekly downside target of 1.3857 was the low of the day. Those lows were firmly rejected – a move that keeps CABLE oscillating around the key 13 day mvg avg. So immediate signals for sentiment cannot be strong but it is the close below the average that keeps our technical bias mildly negative. Therefore this morning’s call is a Cautious Sell at 1.3905 and at 1.3939. The risk is 1.3973 with downside objectives at 1.3879, yesterday's 1.3857 low or even 1.3809.

Trade active:

Taking some profits near 1.3885 instead of 79. Sell at 1.3939 cancelled