GBPUSD is fast approaching a very strong resistance level at 1.317, which is where I want to look to enter short on this pair.
This could also be the 3rd contact made on a forming trendline from the high in 2014.
My first target is 1.28 and I would wait to see a break below the ascending dotted line to confirm a further drop.
Fundamentals are playing a large role in all GBP pairs recently. So please be cautious and only take trades like this if you have already surpassed your weekly/monthly target gains.
This could also be the 3rd contact made on a forming trendline from the high in 2014.
My first target is 1.28 and I would wait to see a break below the ascending dotted line to confirm a further drop.
Fundamentals are playing a large role in all GBP pairs recently. So please be cautious and only take trades like this if you have already surpassed your weekly/monthly target gains.