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Willpower87
Jun 23, 2015 12:24 AM

Update on last week's GBPUSD short  Short

British Pound/U.S. DollarFXCM

Description

Short from 1.5925 is working

The topping formation looks almost exactly the same as the one on May 13 (also Fib time from the low)

What happens next is interesting. It'll come to test the short-term uptrend (pretty steep one) at 1.58. If holds, although highly doubtful, then it'll bounce and probably go higher.

If breaks below 1.58, then next support will be the 38.2% retracement and another trend line support at 1.5635.

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