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Short

Fibonacci Retracement on GBP 1 Hour

FX:GBPUSD   British Pound / U.S. Dollar
Bit of traditional candle trading. We are at the Fibonacci 0.618 level of a short retracement. The 0.764 level held as resistance and was not broken. Additionally SuperTrend is bearish and Stochastic is in an overbought region. Further strengthening the trade, Coral Trend Line has changed from green to red, any flip underneath it is a further signal to short.

Entering short with a take profit at the 0.236 line, SL just above the 0.764.
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