GBP/USD testing major resistance, prepare to sell

The price is testing major resistance at 1.2938 (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 (34,5,3) is testing major resistance at 93% and we expect a corresponding reaction off that level similar to the one we're expecting on price.

Sell below 1.2938. Stop loss is at 1.2994. Take profit is at 1.2837.


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