GBP/USD – 1.2854
Most recent candlesticks pattern  : N/A
Trend                                : Near term down
Tenkan-Sen level                : 1.2865
Kijun-Sen level                   : 1.2845
Ichimoku cloud top             : 1.2839
Ichimoku cloud bottom       : 1.2833
Original strategy :
Sold at 1.2910, Target: 1.2810, Stop: 1.2945
Position : – Short at 1.2910
Target :Â – 1.2810
Stop : – 1.2945
New strategy :
Hold short entered at 1.2910, Target: 1.2810, Stop: 1.2900
Position : – Short at 1.2910
Target :Â – 1.2810
Stop : – 1.2900
Although sterling rebounded after falling marginally to 1.2769 yesterday, as price has retreated after meeting resistance at 1.2921, retaining our bearishness and as long as this level holds, consolidation with mild downside bias is seen for weakness to 1.2800-10, however, said support at 1.2769 should hold from here and bring another rebound later today or tomorrow.
In view of this, we are holding on to our short position entered at 1.2910. Above 12921-26 (said resistance and previous support) would defer and suggest low is formed instead, bring a stronger rebound to 1.2950 but upside should be limited to 1.2990-00.
