Possible bearish momentum with a channel down starting to form after a rejection from resistance.
Target will be around the 1.715 area with a stop loss just above the previous resistance.
Idea invalidation and breakeven will be placed if channel down is broken.
Trade Safe
Bearish Divergence in the 4 hour chart with RSI at standard 14 setting
Resistance
Fib 50
Old trend line
Cluster of exhausted wicks.
Dovish comments from BoC, scaling back of QE measures and good GBP news give me a mixed message with this trade.
With technicals I am bearish
