There is a bearish Spike & Channel on the GBPUSD 240. Look for a deep retrace around 1.5480-1.55 at the .382 Fib to go short. If you look at the smaller 240MIn chart we have a break below close below in the last two swing lows. This could be a short or a long term play. You could take the short trade to the 1.5320's or long term targets down to 1.5250's and a follow on target to 1.4950's. Then I would look for a reversal around 1.46-1.47 for longs. Good luck trading.
