GBP/USD short to 1.5400 fib extension to the next range!!

21 Ara 2014

After a trend line break to the downside we now see lower highs still in play on the daily and yet to make a new swing low. Cable still in a box range with a couple false breakouts awaiting next range drop (Pink Lines) to my next target the 1.618 fib extension once price breaks from current confluence (Blue square) A retest to the daily and weekly trend line and price action on the lower time frames will be needed before entering cable again.