FX:GBPUSD   British Pound / U.S. Dollar
Looking short on this pair as the previous day candlestick closed as a strong bearish marbozou. However, on the open of the market we can expect a pull pack up to the 4 hourly 50-61.8% level (1.23500). If price breaks above the bearish trend line we could expect price to move up to the 61.8% daily level (highlighted by red box). As traders we must understand nothing is guaranteed. Therefore its about understanding the key levels whilst adopting key money management strategies. As you could see we have 3 trade setups. THESE ARE NOT CONFIRMED! These trade setups are just ideas, we would await PA confirmation around these levels. If they do look bearish then these tradesetups would be set up accordingly.