GBPUSD profit target reached perfectly, prepare to sell
Sell below 1.2933. Stop loss at 1.2988. Take profit at 1.2854.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly. We prepare to sell below 1.2933 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push down to 1.2854 support (Fibonacci retracement, horizontal swing low support).
Stochastic (21,5,3) is seeing intermediate resistance at 85% where we expect a drop from.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly. We prepare to sell below 1.2933 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push down to 1.2854 support (Fibonacci retracement, horizontal swing low support).
Stochastic (21,5,3) is seeing intermediate resistance at 85% where we expect a drop from.