Tuesday, 5 March 2013

GBP/USD 5 MARCH 2013



Price is currently at the 618 of this swing. We need a bearish cs formation from current levels for a short entry, else a sustained break of 5220 will start a reversal on this time frame.

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Will be going long if:
No long setups, no criteria in place.

Will be going short if:
We need a clear bearish cs formation for a short trade setup. If the 618 doesn't hold then we have a 786 higher up. Only a sustained break of 5220 negates this view and starts a reversal on this pair.

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