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GBPUSD: Faced 200 EMA on H4 | April 10, 2017
Gbpusd has faced 200 EMA on H4 time frame. We can expect some bullish movement on this pair. This pair is now staying in the oversold area as we can see on the stochastic indicator. So, there is a chance to pull back for some distance. But overall, this pair is on sell mode if we can look at the daily time frame.
We can observe the chart and this pair formed big bearish candle on the daily chart which can bring this pair more down. For the long term, we need to stay in sell mode. But for day trading, we can go for buy with putting stop loss below recent low level.
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