Saturday 7 March 2015




GBP/USD formed two doji candlesticks in the weekly filter chart right under the resistance at 1.5000 and, as expected, started dropping. I am pleased to say that I managed to open new short positions just in time to profit from that drop. The pair will likely reach 1.4990 where there is a support level, and should it break below that level it will likely head for 1.4780, where there is another support level. While there is a possibility it might form a double bottom I think that that the bearish trend will continue.

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