Coming close for a correction

Pound is coming close for a retracement. It needs a correction before a continued downtrend - although I do prefer a reversal to reach the dreamland above 1.40, I feel we do need some fundamental support from UK economy to stimulate the journey - and if not, the firm downtrend is undoubtedly the current trend.


I expect pound to retrace anytime soon from now, entry price at 1.36936, and if you want an early entry, you can but it now (1.37070).

TP are fib based, anything above 1.3834 for now I see as luxury; in fact breaking through above 1.3770 will already be a success - and that on daily will make a mark.


SL set below daily 200, so should be safe. And if broken, we'll accept the loss with no regret.

GL