GBPUSD reacting below descending trendline resistance. A short term drop below our 1st resistance at 1.37848 towards recent swing low and 1st support at 1.37505 could be possible. RSI is testing resistance where price reacted in the past as well.
Trading Recommendation
Entry: 1.37848
Reason for Entry:
61.8% Fibonacci retracement, Descending trendline resistance
Take Profit: 1.37505
Reason for Take Profit:
-61.8% Fibonacci retracement, Graphical swing low
Stop Loss: 1.37998
Reason for Stop Loss:
Graphical swing high
