SHORT GBPUSD

4 set 2016

GBPUSD is set up in the possible 3rd wave of an Elliott Wave. Watch for price on hourly to retrace back to 100% Fib level where there could be a possible rebound to the upside to the supply zone completing the 4th and 5th wave or break the 100% level down to the 76.4% Fib level to complete the 4th wave then rebound to the upside to the supply zone to complete the 5th wave.

I will execute PUT/SHORT once price closes below the 50 MA and/or 100% Fib level