ChrisThein
Short

GBPUSD BEARISH SPIKE & CHANNEL 240MIN

FX:GBPUSD   British Pound/U.S. Dollar
There is a bearish Spike & Channel on the GBPUSD             240. Look for a deep retrace around 1.5480-1.55 at the .382 Fib to go short. If you look at the smaller 240MIn chart we have a break below close below in the last two swing lows. This could be a short or a long term play. You could take the short trade to the 1.5320's or long term targets down to 1.5250's and a follow on target to 1.4950's. Then I would look for a reversal around 1.46-1.47 for longs. Good luck trading.
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