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.
Comments
DonDimadjo
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Well, we've seen 2 more pushes to the down side, just as I expected. The market move wasn't what I puctured above but still good enough for those, who followed. Hope you guys performed well and booked some pips for yourselves. tradingview.com/e/kwy0zc18/
DonDimadjo
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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.