INSTITUTIONAL TRADE: Short GBPUSD - Bank Of America

5/08/2020 09:03:00 PM

Details

Entry: 1.2460
Target: 1.2030
Stop Loss: 1.2720

Reason

A top structure probably formed during April while spot remains below resistance of 1.2657-1.2711 (double top or head and shoulders). 

The RSI profile remains bearish below 60. The MACD histogram is diverging. Medium and long term GBP/USD trends have a bearish bias.
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