GBP/USD SELL - 06/10/2017
GBP/USD fell down yesterday and broke down the lower boundary of the consolidation. The move was abrupt and on large volume + two new resistance levels were created. The first one 1.3184-1.3204, the second 1.3124-1.3145. Both levels contain increased volume. Given all these facts, we should consider exceptionally short positions. We can enter the market after a resumption of the fall from the current level or after a smooth upward correction. A stop loss should be placed above the resistance 1.3124-1.3145. A potential of the deal is 140-150 pips. If the price breaks out the first resistance during its correction, we can apply the same scenario to the level 1.3184-1.3204.
The bottom line: short positions are in priority.
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