Tuesday, February 26, 2013

GBPUSD Short Trade Plan

myfxvoyage.blogspot.com GBPUSD Short Trade
Recent down momentum in GBPUSD has been strong and pair has broken below a major support. 

This support was held on previous 3 dips. This support area comes around 1.5250/60.

100EMA and 200EMA are crossing each other down indicating a bearish structure.

I suspect this area to become support-turned-resistance and should provide good resistance on any spikes.

I plan to go short on touch of this area for a possible move towards 1.5 area. 

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