Retracement to 50 EMA - GBPUSD - Short Continuation

There has been a retracement to the 50 EMA on the GBPUSD. Also, prices have retraced to the 50% Fib level. For a short entry, wait for a breakdown below the bullish corrective trendline. For an earlier signal, you can wait for a breakdown below the corresponding bullish corrective trendline on the Momentum as it usually precedes price breakouts. Happy Trading! :D

Kommentar:

Prices may however, push up a bit higher to the 61.8% level. So be careful as to where prices go before a bounce.