Short GBPUSD idea
Daily rejection candle at the top of the channel.
This would need to close below previous resistance @1.3200 to confirm a downtrend. I would expect TP1 to be at around 1.300, 50 fib. If this continues to draw down then I would expect this to continue past the 61.8 level and bounce off the trend line before going back up the channel.
Price action past 61.8 will be looked at.
Trump has made a few comments about USD being too strong. With Brexit in the air, strong GBP news can see this rise and weaken the dollar.
This would need to close below previous resistance @1.3200 to confirm a downtrend. I would expect TP1 to be at around 1.300, 50 fib. If this continues to draw down then I would expect this to continue past the 61.8 level and bounce off the trend line before going back up the channel.
Price action past 61.8 will be looked at.
Trump has made a few comments about USD being too strong. With Brexit in the air, strong GBP news can see this rise and weaken the dollar.
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