Saoldric
Short

gbpusd correction breakdown

FX:GBPUSD   British Pound / U.S. Dollar
36 1 2
for this trade for about a week we have been in a corrective mode. I believe that we have finished our brief correction to the upside for the moment as we have broken our trend line of the correction.

on a weekly we are at a somewhat strong support level atm as well as the 61.8% fibb level, so i have limited the target for this trade for now.
snapshot

fake out or retest? either way, you can set your stops tight.
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