GBPUSD looking for a dip

GBPUSD (1.4961)

GBPUSD is looking to take a good dip and currently traders will hope to get GBPUSD around 1.5000 level to sell it for a nice dip towards 1.4850 level. Break of 1.4850 level could start a really extended dip by GBPUSD therefore long term traders might like to hold position for a break below 1.4850 and the use a reasonable stop loss to extend their profit. RSI is just around 40 and seems to have more than enough space for an extended dip.

TRADE:

Sell GBPUSD @ 1.5000 for Profit Level @ 1.4850 with Stop @ 1.5100