GBPUSD Correction Short

British Pound/U.S. DollarFXCM

Description

⋅ Oct 11, 2019 8:27 AM

GBPUSD reaching 1.24500 P Level. M being formed on the 15m. We can now look for a correction as London opens.

Comments

tahmid_1

⋅ Oct 11, 2019 11:14 AM

As the price broke through the trend line, does that mean this trade is no longer valid? or are we expecting the price to retrace back into the zone?

maazussen

⋅ Oct 11, 2019 3:11 PM

@tahmid_1, Since it broke it - can't expect a reversal. It's not respecting technicals at the moment. Will have to wait for a new structure