Pound MA Break/Retest Short

Price has a tendency to revert to the mean over time. Pound is in a movement to the downside.

Price has broken the 30 EMA and retested.

Price has more recently broken the 120 EMA , and now we are considering if it will retest this average.

1. Enter Short = 1.2490 (120 MAV)

2. Stop - 1.2575 ( above the .382 fib )

3. Target - 1.2230 ( .786 fib)


4. RR = 3