GBPUSD 4H Short
British Pound/U.S. Dollar FX:GBPUSD
Prediciting a short on this pair, due to its continuing downtrend. Using a fib retracement, i predict there will be a small pullback to the 618 area, with a small shorting opportunity just after. The 618 area also happens to be inline with the previous LL for this pair. Price is currently below the 200EMA, showing a downtrend, and the bearish candles that are forming are very strong, as they are powerful with little to no upper wick, which shows the bulls are currently unable to match the bears strength.