FX:GBPUSD   British Pound/U.S. Dollar
194 1 4
The GPBUSD is unfolding in the shape of a corrective combination and I think that there might be another leg higher needed once the current move lower is complete. Short term we see a bearish break after a consolidation. I will target 1.426 zone and see whether price breaks lower or reverse from that price zone.

The safest entry will be after a consolidation of smaller degree which is currently in progress.


http://www.timstuyts.com

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snapshot


Hope you guys were able to enter short in time. It happened just after I uploaded my post.
My stop loss is at break-even and my target is at 1.427 but I will manage this trade when I see a reversal or consolidation.
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