flewis777

OVERSOLD BRITISH POUND STALLED AT 200 MA

Long
FX:GBPUSD   British Pound / U.S. Dollar
50 ma IS WAY ABOVE 200 ma AND PRICE HAS STALLED AT 200 ma LEAVING ME TO BELIEVE THAT THIS MOVE IS A POP-DOWN TO BE FOLLOWED BY A RETRACEMENT BACK UP. RSI IS SHOWING WAY OVERSOLD. FOR THIS ONE RISK REWARD LOOKS GOOD TO ME. I WILL PLACE A BUY STOP JUST ABOVE FRIDAY'S HIGH.

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