Elliot_Myers
Short

GBPUSD Elliot Wave Short Set Up

FX:GBPUSD   British Pound/U.S. Dollar
I hope you saw my short set up yesterday and caught a good amount of pips from today's sizeable break down.

Price action is likely to retrace to the 50% fib level and consolidate before continuing downwards, it may extend beyond the 50% fib as there are now high level news events for the dollar or sterling tomorrow to spur more selling.

My view is that entries above the 61.80% fib level can be held. If you are seeking an entry wait for the price to rise, consolidate and then present a clear selling signal candle.

Good luck traders.

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