justatrader
Short

GBPPUSD - Looking for support?

FX:GBPUSD   British Pound/U.S. Dollar
266 0 0
On the daily charts , GBPUSD             looks like its finding it hard to move higher. So a likely move down to find good support is quite likely. Switching to H4, we look for short opportunity. Look for price drop below 20SMA and at the same time 20RSI dropping below 55.

We are currently in a buy cycle which looks like its coming to an end.

Targets can be either the sloping Speed Resistance line or the 50% Fib level followed by 38.2% fib level.
Professional market analyst with a keen interest on futures. Love keeping an eye on the markets. Currencies, bonds, commodities. Combining technical analysis and the fundamentals. Contact me for more details.
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