GBPUSD - Intraday - We look to Sell at 1.2650 (stop at 1.2725)
Afternoon dips were bought into and follow through bullish momentum resulted in the market moving higher. Selloff stalled at the daily Ichimoku Cloud. The overnight dip has been bought into and there is scope for further bullish pressure going into this morning. The reaction higher is positive, however, we view this as an opportunity to set shorts in line with the overall bearish move lower. Posted a Double Top formation. Preferred trade is to sell into rallies.
Our profit targets will be 1.2500 and 1.2400
Resistance: 1.2600 / 1.2670 / 1.2700
Support: 1.2540 / 1.2480 / 1.2450
Afternoon dips were bought into and follow through bullish momentum resulted in the market moving higher. Selloff stalled at the daily Ichimoku Cloud. The overnight dip has been bought into and there is scope for further bullish pressure going into this morning. The reaction higher is positive, however, we view this as an opportunity to set shorts in line with the overall bearish move lower. Posted a Double Top formation. Preferred trade is to sell into rallies.
Our profit targets will be 1.2500 and 1.2400
Resistance: 1.2600 / 1.2670 / 1.2700
Support: 1.2540 / 1.2480 / 1.2450
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