GBPUSD 50% Short? well… we finally reach 50% and the 200MA on Daily Chart

Day Trading GBPUSD

On Last post, I said I was more likely to take a short one since Sellers was supported by 50MA. well, since market never break Lower trend line, we was safe, and it was a great long trade for those who did take it, Congratulation!

For my part, I’m looking for one more potential Short Trade, and it look great now.Why?  Sellers keep GBPUSD price under 200MA, we reach 50% Ret. Fibonacci , we have another resistance just above 200MA, my bleu area. volume are not that great on buyers side.  And we are also at the top of bullish trend line.

What I’m looking for next week? Sellers get in the market, and go to my red line (Short Target). At this point, we may see buyers get back in the market to retest 200MA. Depending how buyers will act on this movement UP, I will update my post.