FX.co ★ GBP/USD forming a double top reversal, watch for the drop

The price has formed a double top reversal with major resistance at 1.3991 (Fibonacci retracement, horizontal pullback resistance, breakout level) and we expect a strong drop from this level towards 1.3639 support (Fibonacci retracement, horizontal pullback support).

RSI (89) has also made a bearish from our long-term ascending support-turned-resistance line signaling that a breakout is expected.

Sell below 1.3991. Stop loss at 1.4166. Take profit at 1.3639.