GBP/USD Potential Short Scenario
Requirement!
1. Price must not close any higher.
2. A confirmed close below 1.5435 is a must
Target is 1.5310 slightly above the 127.2% Fibonacci Extension and "00" Level.
Stop is slightly beyond 1.5500
Reason:
Stochastics is already above 80, any rejection from the Ichimoku Cloud would see the pair maintain downtrend.
Should the Stochastics Drop below 80, the pair would have enough momentum to push lower towards 1.5300.
1. Price must not close any higher.
2. A confirmed close below 1.5435 is a must
Target is 1.5310 slightly above the 127.2% Fibonacci Extension and "00" Level.
Stop is slightly beyond 1.5500
Reason:
Stochastics is already above 80, any rejection from the Ichimoku Cloud would see the pair maintain downtrend.
Should the Stochastics Drop below 80, the pair would have enough momentum to push lower towards 1.5300.
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