GBPUSD SHORT on 4HOUR CHART

22 thg 4, 2017

Price action rallied up into the 1.2769 region and began to consolidate between that level and the 1.2859 level. There is major resistance just above this consolidation zone with an equal measured move completing at 1.2864, a 1.618 extension of the AB leg coming in at 1.2903, and a 61.8 retracement level at 1.2854. I am looking to go enter on a confirmed break of the consolidation to the downside, with initial targets just above the 1.26 level