Looking at a bearish bias to take GBPUSD down to near 1.28000. Daily Fib reaction on the 618 and again on the 4hr fib. If zone and trend line breaks we can expect a bearish run downwards. Also considering UK leaving the EU on the 31st of January, this could help us move downwards towards our target.
Trade closed: stop reached:
Stop loss was put to break even. trade dropped to nearly 60 pips then appears EU members agreeing to brexit withdrawal agreement has seen an increase in investment in GBP. Trade stopped out at break even or profit was taken at up to 60 pips.