Is it a time to short GBP/USD, I wonder?

FX:GBPUSD   British Pound / U.S. Dollar
220 1
Looking at the 1hr chart, I see the 20 EMA supporting the move up for the last 2 days. Also, there's the 61.8% fib level (1.6167) from the move down from 28.04.2011 to 13.01.2012 holding the move up on the 1hr chart today. If I see an hourly candle closed below 1.61441 and 20 EMA at the same time, we can probably go down and test 1.6119 - 50 EMA or even lower to 1.6088 (200 EMA ). I prefer to see the 1hr candle closes below the 20EMA, go back test it, so that I can open a short from around 1.6144 with tp1 = 1.6120 and tp 2 1.6090. sl at 1.6160
Well, the price worked out, came back to re-test 1.6144, I took a short, got the first tp at 1.6119, moved stop loaa at break even, and starting to wait for the tp 2 where the 200EMA is laying -> 1.6092 (it moved a bit up from yesterday's 1.6088). Sadly but the UK retail sales data from this morning helped the price push back up and took me at break even. well, i did catched my tp1 and got zero loss, while waiting on the tp2, so a good trade in the end ;-) now looking to set another short from 1.6160 with a stop loss at 1.6175 and a tps again 1.6120/ 1.6092. What added to my bias is a 1hr bin bar to the 1.6167 level (remember what that was).
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out