Had seen bearish risk Tues and market has slipped lower
GBP/USD long upper candle shadows highlight demand fade nL1N3HA0I4
A bearish engulfing line Tues and GBP set for back to back down days
The reversal signal will need confirmation
A 38.2% Fibo off 1.2299-1.2569 provides a bear target at 1.2466
The Fibo close to the 1.2467 May 1 low point
Key 50% retracement is 1.2434, a break here could cement the new bear trend
We will look for an opportunity to get short for drop under 1.2400
For more click on FXBUZ