The chart shows my working count for GBP/USD. I think that the last few days€™ movement was a terminal impulse (ending diagonal). It should be over today at 1.5945 and the today€™s sell-off is a first signal in favor of this idea. If I am right, the minimum downside target should be 1.5516. A key resistance is 1.5900. With an eye on the bearish expectations I entered short earlier today

Trading strategy: 05:17 EST; 10:17 GMT

Short position from 1.5856, stop loss - 1.5950, target - open

Trading strategy: 02:19 EST; 07:19 GMT

Sell on break of 1.5857 (sell stop order at 1.5856), stop loss - 1.5950, target - open

This analysis has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.