FX Price Action – GBPUSD Offering With Trend Signals | May 14th
GBPUSD – Two Pullback Levels to Get Short
For the last 400 pips, the pound has been selling off quite impulsively, with only two pullbacks for traders to get short and rejoin the trend. Both of these levels are not too far from here, but I haven’t seen any signs in the price action that suggests this trend is over. Based on the nature of this trend, I’m looking for more pullbacks instead of breakouts, and there are two levels I’m looking to get short.
So until we get a few 4hr closes above the 20ema, look for the downtrend to continue.
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