I think They Had their chance - Short

FX:GBPUSD   British Pound / U.S. Dollar
I am adding 2nd short entry here, please see related idea for the bigger picture. I think bulls had their chance 2 times so far, price might head south from here, I would use a stop above 1.5 for this one.
all based on price action and current behaviour this is not a set and forget setup.
I would wait for 4hrs close before taking action - worth watching
I´m plan to enter long on GBPUSD , my rationale behind is the current bullish outlook for Crude Oil as posted here :
+1 Reply
NidalDarawsheh Realisto_FX
you need be careful with oil prices now days, price wont reflect value as long as the war in Yemen is on, KSA is using oil prices as a weapon. but in general you will need a counter trade for the market to move
I tend to agree, and I put my overlay onto your chart so you can see the analysis
+1 Reply
I like your lines, I did not short it yet waiting for 4hrs close
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