Technical analysis:
GBP has been trading downwards as I expected. The GBP confirmed the breakout of the upside channel and potential for the bigger drop.
Trading recommendation:
Watch for potential selling on the rallies with the downside target at the price of 1.4000.
The main cause for the downside movement is the breakout of the upside channel in the background and successful re-test phase.
Stochastic is showing fresh bear cross and potential for the bigger drop....
Key ressistnace is set at 1.4230
