GBPUSD - Shooting star posts bull warning
GBPUSD - Intraday - We look to Sell at 1.2620 (stop at 1.2655)
A shooting star has been posted as prices reject the higher levels. Traded to the highest level in 25 days. The reaction lower is negative and highlights a clear reversal. The overnight rally has been sold into and there is scope for further bearish pressure going into this morning. A lower correction is expected. Preferred trade is to sell into rallies.
Our profit targets will be 1.2515 and 1.2455
Resistance: 1.2625 / 1.2650 / 1.2670
Support: 1.2580 / 1.2555 / 1.2510
A shooting star has been posted as prices reject the higher levels. Traded to the highest level in 25 days. The reaction lower is negative and highlights a clear reversal. The overnight rally has been sold into and there is scope for further bearish pressure going into this morning. A lower correction is expected. Preferred trade is to sell into rallies.
Our profit targets will be 1.2515 and 1.2455
Resistance: 1.2625 / 1.2650 / 1.2670
Support: 1.2580 / 1.2555 / 1.2510
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