Sterling Sell Opportunities

٨ مايو ٢٠١٦

Awaiting a pull back and an exhausted bull candle to trigger a sell. It isn't clear if price will simply continue down or pull back to allow an ideal entry however keep an eye out as price approaches the 50% fib as it's likely traders will liquidate short positions which will allow for a pull back and re-entry to the downside.

Brexit fears and what I expect will be a dovish BOE statement this week coming should put more pressure on Sterling to the benefit of the downside.