Analysis by: ForexRoyals
Currency: GBP/USD
Trend Expected Direction: Down.
Method: Resistance and Support levels , Pivot points and RSI.
Description: We see that the GBP/USD is under the pivot point ( 1.5840 ) and the RSI reached the resistance line. We expect more downtrend towards 1.5790- the first support level and a breakthrough will confirm more downtrend until 1.5730.
Action: Best action is to sell under the Pivot point.
Target Area: First target 1.5790 , second target 1.5730 and the long term 1.5690
Stop Loss: Above the Pivot point , 1.5870.
