FX.co ★ GBP/USD Approaching Resistance, Prepare For Reversal

GBP/USD is approaching its resistance at 1.3004 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 1.2893 (50% Fibonacci retracement, horizontal swing low support).

Stochastic (89, 5, 3) is nearing its resistance at 97% where a corresponding reversal is anticipated.

GBP/USD is approaching its resistance where we expect to see a reversal.

Sell below 1.3004. Stop loss at 1.3060. Take profit at 1.2893.