We would come to a point that this massive drop in GBPUSD
would come to end. Price is moving into a falling wedge
pattern with MACD bullish divergence
showing this down move is losing it's momentum. So what we should wait is for price to break above the pattern, watch for a buy setup and go long.
But first we could take a short term sell trade into the wedge
. Price after a small impulsive move to the down has been into a correction, and a breakout below it will signal us going short.
Have an nice trading week, all..!