GBP/USD dropping nicely from our selling area, remain bearish

The price has reacted nicely off our selling area yesterday. We remain bearish below major resistance at 1.2956 (Fibonacci retracement, horizontal pullback resistance) and we expect a strong reaction off this level for a drop to at least 1.2837 support (Fibonacci retracement, horizontal pullback support).

Stochastic (55,5,3) is dropping nicely from our resistance with good downside potential.

Sell below 1.2956. Stop loss is at 1.2994. Take profit is at 1.2837.


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