1. GBPUSD began the rally start from 1.5775, if we summarize daily time frame, it should be a good and strength reversal sign because "bullish divergence" was there. 2. GBPUSD was move over than 400 pip in just two (2) days. I believe in this hour is a retracement period against this rally. I dont means against the trend but against this rally.
3. Daily timeframe is US INDEX also give a good signal for retracement, because the index nearly touch the trend line.
4. As long as in US INDEX the index still move above 60 point. I consider Dollar still strong, and bearish for GBPUSD.
5. Congratulation for who was buy from bottom. Now are you comfortable to sell ? follow your system.
6. My assumption, there are still bullish. I dont know whether the retracement also equivalent to half strength of the rally or otherwise.
Regards.
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