GBPUSD hidden divergance.

FX:GBPUSD   British Pound / U.S. Dollar
73 0 4
I believe we will get a bounce here from fib 0.382 level to give us another opportunity to enter short around 1.53. Anyway do your own thing i am sure all of you know how to set your targets for divergance :D.

Bearish Hidden Divergence occurs during a reaction in a down trend when the oscillator makes a lower low while the price action does not as it is in a reaction or consolidation phase. This indicates that the selling has not waned and that that down trend is still strong. The reaction is merely profit taking rather than the emergence of strong buyers and is thus likely to be short lived. As a result, the down trend is more likely to resume in due time.

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