husaynirfan

GBPUSD Continue Short After Keep Breaking Support Line

Short
OANDA:GBPUSD   British Pound / U.S. Dollar
GBPUSD been breaking support in the daily timeframe. Currently, it show retracement in daily timeframe. Price has been bullish and breaking through 0.382 fibonacci retracement and retest the area before continue long until meet the resistance area on 1.26531 - 1.25776, which was still below 0.618 but on the 0.5 fibo retracement. Currently, price break the 0.5 fibo retracement and the ideas is price may continue going short after retest the 0.382 fibo retracement. Then it may continue down trend until the next support line. Second ideas are price may continue bullish until it meet the 0.5, which was also resistance zone for daily timeframe. Then it may continue short until the next support line. 50EMA still under the 200EMA and 100EMA, proving the trend on daily time frame still on down trend. GBP fundamental analysis proving that GBP may continue short, as Retails Sales m/m reported that the actual was actually less than forecast. USD also may getting stronger as President Trump tweets may affect USD strength.
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