Trader_97
Short

GBPUSD MORE DOWNSIDE TO COME ?

FX:GBPUSD   British Pound / U.S. Dollar
17 0 1
After posting a bearish engulfing candlestick on Friday last week ,we continued to decline on Monday and posted a low near 1.5114 area.We may continue to head lower further within the descending wedge .Likely to find a decent support near the 1.4994-1.4988 area.A breakout out of the wedge to the downside could extend the losses for Pound.Short term resistance lies @ 1.5144-1.5154 area.The trading range for the pair on Day time frame is tightening up but we still are far from conclusion meanwhile look to go Short on the pair on lower highs on smaller time frames
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