EUR/USD retraced more than 50 percent, today given us a clue for lower prices in due course.The low of the counter trend pin formed yesterday was violated early immediately after New York close but later pair gain back at New York close today.As stated yesterday we are patiently waiting for price Action development at 1.3120.
GBP/USD formed a high probability 50 percent retracement candle today.Given the location of the counter trend formed yesterday and the formation of the retracement today, our bias for shorting has received a great boost of high probability.We are anticipating a retrace back to the key support zone at 1.6177, where we can be on the look out for a possible shorting setup to back up our bearish bias.
GBP/USD formed a high probability 50 percent retracement candle today.Given the location of the counter trend formed yesterday and the formation of the retracement today, our bias for shorting has received a great boost of high probability.We are anticipating a retrace back to the key support zone at 1.6177, where we can be on the look out for a possible shorting setup to back up our bearish bias.
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