GBP/USD SHORT POSITION IDEA
FUNDAMENTAL ANALYSIS: THE POUND HAS BEEN VERY STRONG HOLDING ITSELF VERY WELL. CURRENTLY WE HAVE USD LOOKING VERY WEAK AS TALKS WITH CHINA HADN'T GONE AS EXPECTED, STILL TO EARLY TO CONFIRM WHERE THE USD STANDS BUT WE ARE GETTING BULLISH TONE IN THE POUND.
TECHNICAL ANALYSIS: AS MARKETS START TO SETTLE IN, WE ARE SPECULATING PRICE BOUNCING OFF THE DAILY FIBONACCI .618 LEVEL. IF PRICE RISES TO PREVIOUS RESISTANCE THEN THAT'D CONFIRM A DOUBLE TOP THEREFORE LOOKING TO TARGET THE DAILY SUPPORT, BREAKING OUR TREND AND LEADING TO A BIG POTENTIAL SELL IN THE FUTURE.
TECHNICAL ANALYSIS: AS MARKETS START TO SETTLE IN, WE ARE SPECULATING PRICE BOUNCING OFF THE DAILY FIBONACCI .618 LEVEL. IF PRICE RISES TO PREVIOUS RESISTANCE THEN THAT'D CONFIRM A DOUBLE TOP THEREFORE LOOKING TO TARGET THE DAILY SUPPORT, BREAKING OUR TREND AND LEADING TO A BIG POTENTIAL SELL IN THE FUTURE.
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