FX.co ★ GBP/USD right at major resistance, remain bearish

The price is testing major resistance at 1.2531 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance, and descending resistance) and we expect to see a reaction from this level for a further drop to at least 1.2378 support (Fibonacci retracement, horizontal swing low support).

Stochastic (34,5,3) is seeing strong resistance below the 94% level where we hope to see a reaction from when Stochastic reaches that level.

Sell below 1.2531. Stop loss is at 1.2621. Take profit is at 1.2378.