Wednesday, 20 March 2013

GBP/USD 20 MARCH 2013



Still sideways on this pair, we are short since there was a test and a bearish cs formation late yesterday afternoon. We need a break of 5070-65 to open the downside towards 4920. Else a sustained break of 5200 will start a reversal on this time frame.

Will be going long if:
No trade setups, we don’t have any criteria in place.

Will be going short if:
We remain short for now, will look to see if we get a fall through 5070-50 to open the downside. I will not be adding to this position at present.

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