GBPUSD Update 22 April 2020 #2 Bearish reversal

On the 4hr graph the RSI is in a perfect sell zone, it almost reached the 38 Fibb level before moving to the downside which shows the bears are still very much in control, as mentioned in my previous post, 1.23500 would have been a nice level to place a sell limit order, it moved 200pips above the level I anticipated. Follow it down towards the 1.22650 support level and look to perhaps set your take profit there, it's still a 950pip profit. I expect it will break the support but to be on the safe side... take profit, recap, analyze and set a new limit order.

(The information provided is purely speculative and we do not accept any gains or losses that may result from our analysis)