GBPUSD 240 min
The pair hit a resistance at 1.4619 after it moved outside a descending price channel. The reaction lower confirmed the market participants’ willingness to sell near the resistance while Stochastic Oscillator (7,3,3) was edging closer to the overbought level. This could provide us with an intraday move of approximately 50 pips if market rallies a little first.
I am looking for sell signals at my sell area at 1.4598 – 1.4618 with a Target 1 between 0.618 and 0.50 Fibonacci levels at 1.4530 and 1.4547.
Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.
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