GBPUSD Channel Down top rejection calls for selling.
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GBPUSD is trading inside a Channel Down and the price is testing its top again for the 4th time in 1 week. This looks to us like December 17th, a rejection on the 0.5 Fib and MA200 (4h) that initiated a drop to the 1.5 Fib extension.
Trading Plan: 1. Sell on the current market price.
Targets: 1. 1.2110 (the 1.5 Fibonacci extension).
Tips: 1. The RSI (4h) of the rejection series is also identical to December's.