GBPUSD:- GBPUSD is getting closer to its major resistance zone, on a daily chart the pair is trading in a upward sloping trend channel and the resistance of this trend channel is at around 1.3375-80 mark. A reversal is expected from the said resistance area. Momentum indicator 14-day RSI is in overbought territory, presently at 74.13 level. We suggest to stay on sell side.
Trade Idea:-Sell GBPUSD at 1.3350-60 for a target of 1.3110 with a stop-loss of 1.3430.