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Thursday, June 22, 2017

GBP/USD: BEARISH TIME!

GBP/USD has been indicating bearish and there is still some opportunities to enter the market and take profit from it. 

There are at least three strong Resistance Levels that will try to hold the pair from moving up. Those are 1.26848, 1.27225, and 1.27580. Historical data has also shown that 1.26516 is not going to be hard to be broken.

GBP/USD will most probably try to break below 1.26516 to enter the yellow zone as shown in the following picture.


It is recommended to open short position in order to take profit above 1.26116. 

And put stop loss above 1.26848.