Hello traders good to be back with you as we look at the GBPUSD on a 60 minute chart. Well PM May spoke yesterday about Brexit and the Markets did not like it and the GBPUSD just waterfall to over 100 pips to the down side and we came down to the low of 1.2120. The trade plan for today is just wait for the price action to pullback to the 23.6 Fibonacci level at the price of 1.2196 and look for a bearish candlestick pattern and sell at this level as marked on the chart. I am looking to take profit at the support zone at the price of 1.2120. I am still bias bearish as I have been for over a year and we must stay with the trend and continue to sell on pullbacks.
Thank you traders and we will talk soon….William