Pullback on The GBPUSD
British Pound/U.S. Dollar FX: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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