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Sell posted to TAP at 8:20am ET, Sell GBPUSD at 1.5633. This sell is based on Daily chart indicators, as such, may take some time for this to come around. Appropriate risk and exposure should be used for that reason. Most of the week we have seen this pair bounce between the mid 1.5600’s and 1.5500’s. Yesterdays daily candle opened and closed under the daily trend line and todays candle is retesting the underneath side of that same trend line. That along with some fibs and the history in the mid 1.5600’s gives us a good bounce point for the ride back down to 1.5560 then a break there could head to the mid 1.5400’s. Again larger compression equals larger risk.
GBP/USD Chart Picture
