GBPUSD Potential Short Signal

١١ أبريل ٢٠١٦

GBPUSD has been extremely bearish since the latter months of 2014 and traders all too ofter overlook the overall market trend because the market enters into a corrective phase which confuses people. Of late, we are attempting to break-out of this corrective phase to the downside, which already presented a nice short set up as seen in our previous analysis:

We are looking for a similar move on a break below this new blue up trend line on the hourly chart, however we will need to see confluence from our price action forecasting algorithm predicting a move to the downside with a chance performance prediction rate of at least 85%. Currently our algorithm is predicting continued movement to the upside with a chance performance prediction of 83%, but we will continue to monitor price action and our algorithm updates to see if we get a shorting opportunity on this pair.

Please see the link below for an image of our algorithm's forecast for this pair:
[img]i.imgur.com/bxHtwSD.png[/img]

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