GBPUSD: Remain Short Amid Likely Upswing
We initially sold GBPUSD at 1.5765. Prices have now put in a Morning Star bullish reversal candlestick formation above 1.4970, hinting that a retracement higher is in store from here. Initial resistance lines up at the bottom of a falling channel established from the swing high in mid-November, now at 1.5333. We will remain short, looking for this move to be corrective and give way to a resumption of bearish momentum.
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