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

The price is approaching major resistance at 1.3059 (Multiple Fibonacci extensions, horizontal overlap resistance) and we expect a strong reaction off this level to push the price down to at least 1.2913 support (Fibonacci retracement, horizontal swing low support).

Stochastic (34,5,3) is seeing major resistance at 93% where we expect a corresponding drop from.

Sell below 1.3059. Stop loss is at 1.3120. Take profit is at 1.2913.