GBPUSD failed to move lower yesterday as we anticipated but today it is giving us a second chance to get short; the pair reached the 1.9700 resistance level and is also forming a bearish divergence on the 1 hour timeframe. Moving under last night low at 1.9615 will put significant pressure on the pair aiming at the 1.9500 round number. Stops should be placed above the high at 1.9705
Trading foreign exchange on the margin carries a high level of risk, and may not be suitable for all investors. The high degree of
leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider
your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some
or all of your initial investment and therefore should not invest money that you cannot afford to lose. You should be aware of
all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
