orvilleawright

GBPUSD (4H) price trading at 50 SMA

FX:GBPUSD   British Pound/U.S. Dollar
GBPUSD             (4H): Price broke to the upside of the triangle pattern and is currently at the 50 SMA as well as near the previous high created Oct             11. The trend is clearly down and I expect selling of bearish price action at this level as well as the other overhead resistance zones (up to the 61.8% retracement ). I would only consider buying (counter trend trade on a shorter timeframe) if I see a very strong break of overhead resistance with the pullback being held above the 50 SMA .
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