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Hello traders and great to be back with you as we look at another currency pair for today. Just a couple of comments it is Friday and what dose that mean profit taking and position squaring. I would watch for this at the beginning and end of each of our trading sessions. I have to mention this because it is effecting our trading. The Greece crisis is not over and I been reading on this and there is a lot of issues that are not complete and what I read was this could be another two months of this back and forth. If you are into reading news papers there is a great website this site has all the news papers from all over the world on it and the site is free great reading just FYI. OK let us take a look at out trade plan on the GBPUSD- This is the 30 minute chart.This pair has made some very interesting moves in the last two days however the trade plan yesterday worked very well with the break of the 200 ema. Today I have placed a Fibonacci tool on the chart and we are looking for a pullback to price 1.5565 also is the daily pivot point. Look for a bearish candle and see if this will continue to the short side. I am looking to take profit at previous support at 1.5516
Traders have a good weekend break and we will talk soon …. William

FX Instructor Forex Blog – For Traders, By Traders

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