GBP/USD: Price in Strong Downtrend | Pullback 1.16500 to SELL

The GBP/USD after reaching our target point, ( Below in the descriptions you will find the chart links to previous Ideas ) touched 1.500 value and today the price reacts with a weak bullish candle. As you can see, the Ichimoku forecast is still Bearish, and the Stochastic is not in an oversold area, only the RSI seems reached the oversold but this does not mean the price can have a reaction with a bullish impulse cause the price can continue to stay in this range. For both indicators, there is not any Divergence, and looking at the charts, our idea is about a weak rebound of the price to the previous resistance area, now at 1.1650 to continue to the main trend, a bearish one.

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✅ INITIAL IDEA

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