FX.co ★ GBP/USD remain bearish below major resistance

Price continues to rise and is now approaching a major resistance level at 1.2984 (Fibonacci retracement, Fibonacci extension, horizontal resistance) and we expect to see a strong reaction from this level for a drop towards 1.2886 support (Fibonacci retracement, horizontal swing low support).

Stochastic (55,5,3) is seeing major resistance below the 88% level where we expect a strong drop from.

Sell below 1.2984. Stop loss at 1.3016. Take profit at 1.2886.