GBP/USD Long-Term Trend: Bearish
Key Resistance Levels: 1.34399, 1.36226, 1.37000.
Key Support Levels: 1.32157, 1.29015, 1.28500.
The price on the higher time frame is in a clear downtrend movement where a series of lower highs and lows has been posted. We expect this to continue where the last correction most probably ended and we might see further movement to the downside.
On the lower time frame, the price found sellers around the 50% Fibonacci retracement level where a double top has been posted showing that the price is about to reverse and move to the downside. before this move a higher correction could be seen toward the highlighted zone.
Sell Limit Order @ 1.34373
TP 1 @ 1.33556
TP 2 @ 1.32157
Stop Loss @ 1.34779
Trade Safely 🙂