GBPUSD 16-20 November 2015 : LONG or SHORT

In my previous article (Sell GBPUSD and Long USDJPY) my conclusion was short on GPBUSD and long on USDJPY. So far the USDJPY move as i predicted but GBPUSD "waited" to continue lower.

Waited mean, GBPUSD on a retracement mode. Why this happen, because it wait economic release for October inflation.
I'm not fundamentalist. My principle is price tell you everything.

Let begin with the short signal on weekly GBPUSD price movement two weeks before.

The red line is support level. The black candle inside the blue line was the signal to go short on GBPUSD.

Last week GBPUSD move up, is the bear was stopped. No, it wait to continue lower. I'll show you why:
This is GBPSUSD daily price movement

If you conect two blue circles on the chart (resistance level), you will find that that the doji (the bar inside the red circle) is touch that line.

Ok, let me summarize it for You:
1. GBPSUSD break the support level in weekly chart
2. GBPUSD break the support level in daily chart
3. Last week, it moved up, but stop at resistance level
4. Either weekly or daily candle was below 200MA, 50 MA and 20MA.

My conclusion is GBPUSD still in bearish market.

Enjoy your trade!