FX.co ★ GBP/USD testing major resistance, prepare to sell

The price has started to react strongly off major resistance at 1.3319 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and we expect to see a strong drop below this level to push the price down to at least 1.3161 support (Fibonacci retracement, Fibonacci extension).

Stochastic (89,3,1) is seeing strong resistance below 99% and is turning down nicely signaling that a reversal is in action.

Sell below 1.3319. Stop loss is at 1.3427. Take profit is at 1.3161.