FullTimeTrader
Short

GBPUSD-how to join the party?

FX_IDC:GBPUSD   POUND STERLING / US DOLLAR
525 2 17
Hello, according to my previous idea i expect a strong decline on this pair because the GBP is extremely overbought. I was expecting this decline the hole month on other pairs also ( GBPCAD             , GBPAUD             , GBPNZD             ).

GBPUSD-correction finished!!

We can try to join this decline expecting some pullback and using this setup on H4 chart.

An ideal pullback would be to the round level 1.5500, testing the broken trendline.

The previous wave 4 and S2 pivot point could also act as resistance.

Best Regards.

*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell.
Always do your own analysis before opening a trade.
Managing is 60% of a trade, anytime I may decide not to open, close or even stop and reverse a trade depending on price action.
Any respectful and constructive ideas are welcome (agree or disagree).
We all are here to learn sharing ideas, have fun and improve our performance.
Too good ! I followed your advice in GBPUSD and benefited by your insight.Keep up good work,learned so much from you then books and paid seminars.
Good luck !!
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Great opportunity here.
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