GBP/USD went up quite strongly over the last few days but yesterday, the bulls
took a breather. The rally stopped at a familiar resistance level and based on the
current price action, there is probability of a further drop.
The short-term support at 1.4105 needs to break for the downtrend to accelerate.
If this weakness continues, selling GBP/USD@1.4122-1.4150 with SL above 1.4240
and TP at 1.3950 is potential sell signal.
took a breather. The rally stopped at a familiar resistance level and based on the
current price action, there is probability of a further drop.
The short-term support at 1.4105 needs to break for the downtrend to accelerate.
If this weakness continues, selling GBP/USD@1.4122-1.4150 with SL above 1.4240
and TP at 1.3950 is potential sell signal.