FeroxWealth
Short

GBPUSD Potential Short Signal Update

FX:GBPUSD   British Pound/U.S. Dollar
TRADE UPDATE
Previous analysis:
GBPUSD Potential Short Signal Update


Please see original analysis linked below for in-depth explanation of our short bias.
GBPUSD Potential Short Signal


We are still awaiting a break below and close below this blue short-term up trend line on the hourly chart to execute a short position on this pair. We will also need to see confluence from our price action forecasting algorithm forecasting a move to the downside with a chance prediction of 85% or higher. Currently our algorithm is predicting continued movement to the upside with a chance prediction of 79%, but we will continue to monitor price action and the updates from our algorithm.

See the link below for an image of our algorithm's forecast for this pair.
http://i.imgur.com/uTwjoZF.png
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