Pullback on The GBPUSD

Pullback on The GBPUSD


Last post: May 23rd. See chart.

Review: Price had established a bear trend below the daily 200sma.

Update: Price continued to weaken but has now pulled back to a support-turned-resistance zone. There is still further room for the pullback to continue.

Conclusion: Standing aside until the low of May is cleared or a better pullback opportunity presents itself to enter short positions.

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