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LegendaryStick

Retracement to 50 EMA - GBPUSD - Short Continuation

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
LegendaryStick Updated   
FX:GBPUSD   British Pound / U.S. Dollar
short Exponential Moving Average (EMA) Momentum Indicator (MOM) trendcontinuation Fibonacci Retracement
3
0
short ema momentum trendcontinuation fibonacciretracement
There has been a retracement to the 50 EMA on the GBPUSD. Also, prices have retraced to the 50% Fib level. For a short entry, wait for a breakdown below the bullish corrective trendline. For an earlier signal, you can wait for a breakdown below the corresponding bullish corrective trendline on the Momentum as it usually precedes price breakouts. Happy Trading! :D
Comment:
Prices may however, push up a bit higher to the 61.8% level. So be careful as to where prices go before a bounce.
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