Tom_Killick

GBPUSD: Moving Into An Action Area, Watch This Level #Forex

FX:GBPUSD   British Pound/U.S. Dollar
371 2 10
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Moving into an area of interesting price action. Keep on eye on this one for a movement breakout. The obvious logic of this, is that it's a short, but don't be too sure. There's a lot going on at the moment and it is worth waiting for an outcome where we can see legitimate selling pressure.

NOTE: Despite not being labelled on the chart, we have heavy MA convergence, signalling consolidation, but more importantly.. After MA convergence we would expect to see a strong price move in the direction it goes.

NOTE 2: I am only looking for shorts off this level, I'm probably not interested in longs from here, unless we see significant bullish action. Which seems doubtful..

Best of luck
Tom
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thank so muck..
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Very nice how it hugged the trendline before melting. xD
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