GBP/USD: Short from Resistance Area

The GBP pound in the last session recover its value after touching the minimum of 1.1800 on 14 July with a moderate retracement that goes over our level of Fibo attention between 50 and 61.8% that previously was a solid area to sell. The price can find a solid area of rejection between the range of price 1.2200 and 1.2350 and 78.6% Fibo between this range of price can be a turning point for the price. The chart shows minimum and highers descending , only the violation of the 1.2350 prices can be an alarm for a possible change of direction of the trend. The Ichimoku forecast remains bearish and the stochastic present an overbought level of attention. Our Idea continues to be Bearish with a possible short selling immediate.

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