gbpusd bearish continuation opportunity
-Mkt testing fib & structure confluence area that is likely to act as
resistance in a downtrend
-B/c the mkt is trading at 20yr lows there is a lack of structure for
tgts, most logical extended tgts would be 1.27 and 1.61 of the most
recent bearish leg.
-Anywhere within bearish trend continuation zone represents
good location for shorts with stops 1atr behind the invalidation area
around 1.3620
-BE AWARE: BOE Gov Carney Testifies today 5am Eastern,
conservative traders should wait until after testimony before
engaging the mkt.
resistance in a downtrend
-B/c the mkt is trading at 20yr lows there is a lack of structure for
tgts, most logical extended tgts would be 1.27 and 1.61 of the most
recent bearish leg.
-Anywhere within bearish trend continuation zone represents
good location for shorts with stops 1atr behind the invalidation area
around 1.3620
-BE AWARE: BOE Gov Carney Testifies today 5am Eastern,
conservative traders should wait until after testimony before
engaging the mkt.
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