socialreagan

GBPUSD Short Entry

Short
FX:GBPUSD   British Pound / U.S. Dollar
For the GBPUSD, I am waiting to see a pullback from the level indicated as there doesn't seem to be strong buying pressure to break the resistance zone indicated. There is also a likelihood that market price may play around the resistance zone for a while before dropping. There are currently no candlestick patterns that indicate either a long or short probability but there is support and resistance, as indicated. I am waiting for an entry short at the resistance line, after which price may gain support and continue on its way up. Let me know what you think of this idea.
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