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Petr_Suchanek
Oct 17, 2013 6:38 AM

GBPUSD bearish outlook Short

British Pound/U.S. DollarFXCM

Description

GB looks bearish to me and it keeps rejecting the weekly pivot. Now the price is just at the 61.8 Fibo retracement level, which is a nice level for shorts. I outlined two possible scenarios, but personally favour the first one. If the current hourly candle closes as a shooting star, it might be the right confirmation for the trigger short.

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Comments
catalin.chi.1
So I was right :)
catalin.chi.1
I think $ will loose value due to the agreement they've reached and by increasing it's debt limit, I think pound will get stronger against dollar
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