FX:GBPUSD British Pound/U.S. Dollar
Looking at the hourly chart on GBP/USD , we've seen a first push down. I'm expecting the move to continue for the next couple of days and see 1 or 2 more pushes to the downside.
Looks like the 1hr 200MA (dark green) is holding the pair, and we might not see a deeper pull back, instead, we may see the next push down. Keep in mind that it's the end of the week and some flows are possible. EUR/USD is trying to break down and GBP/USD may sink alongside. I was hoping to see a deeper pull back to 1.6080/1.6100 or even best would be 1.6115/20 but that may not happen. hard to take an entry. If i'm not give a good entry for a sell, i would be looking to buy at around 1.5990/1.5980 and hold for 40/50 pips (that would be a counter trade, i.e. against the downtrend.