market_cond

GU at a key level and Bearish OTE of the monthly range

FX:GBPUSD   Британский фунт / Доллар США
The Cable is at key level 1.40000 of which if it breaks next level is will target 1.41000, if fails will drop to 1.39000, I am looking at shorting the cable as long as its at a bearish OTE, which is a key level as well. Although GU has crossed retracement level 62% for the current bearish impulse of the late february swing, it has shown good rejection at 78.6% fib retracement level, impulse upward from this level to 1.41000 and 1.420000 may imply a reverse is around the corner. So, in simple terms this level (1.4000) which is also a bearish OTE is likely to provide for a pull back, 1.4000 provides a good Bearish Monthly Order block to wait and see the next
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