GBPUSD has dropped below old support zone towards1.514 levels where produced Lower Low, touched WS1 levels and rebounded towards WR1 and WR2 where produced hammer candles on 4H chart. This area also represents 618 Fib retracement from the pull back and suggest continuing bearish short term trend on the pair. With projected 2:1 R:R ratio this is potential...
Its great opportunity to take short position if CS close below cloud with TP 1.55100 and SL 1.56000. Take buy position if hit SL and close above 1.56000 with TP 1.56600 and SL 1.55600.
