GBP is falling as expected and currently trading near 1.8700. In Asian session though it openned with a gap higher but faltered at the first resisitance of 8770.
Next level of support is at 8630/8600/8540 and 8480. Resistance are at 8770/8800/8860 and 9000.
Wave wise either it is still in consolidative wave iv or probably a medium term top has been formed at 9145 and we have to wait for a deeper retracement before another bullish attempt is made.
For today,we are SHORT GBP/USD from 8725 and stop at 8780 .
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