Killy_Mel
Short

FX CHART OF THE DAY: GBP MEAN REVERTION DOWNWARDS IN PROGRESS

FX:GBPUSD   British Pound/U.S. Dollar
GBP has recently broke down inside the 1st st             deviation from weekly (120-hour) mean.

There is high chance of price tagging the mean now amid compressing volatility.

Traders can catch up with it by shorting (preferably closer to the 1st st             deviation @ 1.5635) in view of price falling to its weekly (120-hour) mean @ 1.5595

However traders willing to jump into the move should also put a stop above the relevant highs (@ 1.5680), despite the fact that the stop level is far away upwards from the price.

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Please mind volatile calendar news due today on the pair: at 8-30 and 14-00 GMT!
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