GBP / USD Still Bearish; See SELL signal

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GBP / USD Still Bearish; See SELL signal

Preferences: BEARISH

Reference Area: 1.32999 – 1.33554 (search for BEARISH signal confirmation)

Support: 1.32101, 1.31203 1.30648

Resistance: 1.32999, 1.33554, 1.34452


GBPUSD seen on the hourly chart is in BEARISH condition and currently the price is consolidating in the support area. Beware of stochastic indicator is in potentially oversold condition. As forex strategy for today, if GBPUSD move up and stuck at resistance at 1.32999 – 1.33554 then look for confirmed SELL signal which there is potential price will move down towards support at 1.32101 range. But if the resistance at 1.33554 penetrated will open up the trend of GBPUSD move up towards resistance at 1.34452.

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