forexlyfeanalysis

GBP/USD SHORT & BEAR PLAY

Short
OANDA:GBPUSD   British Pound / U.S. Dollar
GBP has been under lots of pressure lately, All 8 Brexit proposals by the British PM (Theresa May) were all rejected. This has put the GBP under investor risk and uncertainty, the last 4 months been a Bullish ascending channel ride for GBP/USD . The bulls are no longer in play as the channel is broken to the downside with a strong retest and 200 ema daily crossover. The Fundamentals and Technicals tell the same story for GBP/USD which is WEAKNESS. A short will be our bias.
Comment: We Favor a SELL 1.30345 SL 1.31590 TP1 1.28988 TP2 1.27920 TP3 1.27057 TP4 1.26080 TP5 1.24740

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