GBP/USD will it fall? Using 6B E-mini futures contract on Ninja Traders 7.

GBPUSD

GBPUSD 1440min chart:

Few weeks ago, I mention about GBPUSD need to go back at 50% Ret. Fibonacci. and then we will see Sellers coming back. Finally last week Buyers get there and Sellers start to show up. Buyers fail to pass many time 200MA on daily chart, and be at the top of Bullish Trend, sellers show up and bring GBPUSD price down, and try to break Bullish Trend. But they fail.

Right now, we have to option,1st Sellers will break Bullish trend next week, and we should see a nice drop to go back and retest 1.4830 price. If buyers are back, we may see a consolidation for next week.

6b day trading

GBP/USD 15Min chart

15Min chart will show us if GBPUSD will fall in a consolidation or sellers will keep doping GBPUSD price down.

What I’m watching for?

If Buyers close above 50MA , we will go back to the 200MA ( they may never reach 200MA if they start to lose momentum at half way).

If Sellers keep this 15min chart bearish trend, they will retest the double bottom, and if they succeed to close under the double bottom with same level of volume or greater than previous move down, expect to see GBPUSD price go back to 1.4830