GBPUSD short term bearish opportunity
Updated
After breaking the 1.4490 support to the downside
the short term expectation is a test of the 1.4403 support
zone. Aggressive shorts can be taken at a retest of the
1.4490 broken support zone which should now become
resistance. More conservative shorts can be taken at the
1.4540 resistance zone closer to the invalidation point for the
60M chart bearish trend.
The 1.4403 zone is a good support area for higher timeframe
bullish continuation so best to close out any shorts upon reaching
this zone and there is an opportunity to position long in this
area.
the short term expectation is a test of the 1.4403 support
zone. Aggressive shorts can be taken at a retest of the
1.4490 broken support zone which should now become
resistance. More conservative shorts can be taken at the
1.4540 resistance zone closer to the invalidation point for the
60M chart bearish trend.
The 1.4403 zone is a good support area for higher timeframe
bullish continuation so best to close out any shorts upon reaching
this zone and there is an opportunity to position long in this
area.
Trade closed: stop reached
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