MEX_Exchange
Short

GBPUSD right on pullback resistance, good entry

FX:GBPUSD   Britisches Pfund / US-Dollar
Sell below 1.3991. Stop loss at 1.4166. Take profit at 1.3639.
Reason for the trading strategy (technically):
Price has made a strong recovery last night and has pushed up to our selling entry once again. We remain bearish looking to selll on strength below 1.3991 resistance ( Fibonacci retracement , horizontal overlap resistance) for a further push down to 1.3639 support ( Fibonacci extension , horizontal swing low support, double top exit potential).
RSI (34) has made a bearish exit of our long term ascending support-turned-resistance line previously signalling a change in momentum.
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