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IvanLabrie
May 15, 2015 4:31 AM

GBPUSD: Keep a close watch Short

British Pound/U.S. DollarFXCM

Description

The move off the lows here has been really strong, but after closer inspection it might be comprised of 3 waves.
In any case, there's a time at mode target in the daily that has been exceeded, and time will expire soon.

Watch that date for a reaction, and a possible retracement or reversal.
It'll be key to sync the entry with a fundamental event, in order to have the news boost our trade.

Price has been rejected by a very low volume resistance level, but hasn't reversed yet, and there are still a few days left in the uptrend, so I'd suggest being patient here.

Good luck,

Ivan.
Comments
IvanLabrie
Confirmed 4h sell signal, if reaching target, will confirm a daily sell signal targetting a retest of the mode below:



Selling with a tight stop now.
IvanLabrie


Monitoring today's action.
IvanLabrie
As I was saying, bearish if below...
IvanLabrie
Short signal triggered on the daily.
Same as eurusd and eurjpy.
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