FX.co ★ GBP/USD Reversed Off Resistance, Prepare For Further Drop

GBP/USD reversed off its resistance at 1.3164 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it is expected to drop further to its support at 1.3065 (horizontal swing low support).

Stochastic (55, 5, 3) reversed off its resistance at 97% where a corresponding drop is expected.

GBP/USD reversed off its resistance where we expect to see a further drop.

Sell below 1.3164. Stop loss at 1.3221. Take profit at 1.3065.