FXBen
Short

GBP/USD POTENTIAL SHORT

FX:GBPUSD   British Pound/U.S. Dollar
AS YOU KNOW FROM MY PREVIOUS POST I WAS EYEING UP A LONG ON THIS PAIR FROM A THIRD TRENDLINE BOUNCE AND SOME OTHER THINGS BUT THAT NEVER HAPPENED AND INSTEAD PRICE HAS PUSHED RIGHT DOWN AND THROUGH. LUCKILY I NEVER GOT THE FINAL ENTRY SIGNALS I WAS LOOKING FOR SO WASNT CAUGHT OUT.

NOW IM LOOKING SHORT HERE WITH THE FIRST TARGET DOWN AT 1.5200 AT SUPPORT AND THE MOST RECENT HIGHER LOW. IF THIS LEVEL THEN BREAKS THAT COMPLETELY CONFIRMS THE CHANGE IN THE OVERALL TREND AND WE ARE THEN HEADING BACK TO THE LOWS AT 1.46.

WE HAVE FED MINUTES TOMORROW SO I WONT BE ENTERING UNTIL AFTER THAT HAS HAPPENED BUT MY BIAS IS NOW BEARISH AND I AM FOCUSING MY ATTENTION ON SHORT SETUPS.
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