GBPUSD Price Action: Further bears on Outside Bar Setup stalling. 28/03/2013

 

 GBPUSD appears to be stalling on possible further declines in-spite of its hitting a very significant resistance point at about 1.5206 and giving off an outside bar Trade Setup. The Trade Room was short based on the outside bar setup but quickly took profits before our TP had reached. We wait to see how price reacts now.

My Recommendation: Wait to see if we are bullish in the next trading day then go with the bulls.