GBPUSD

One trader asked me about my opinion on GBPUSD recently... The long time trend is long (on weekly), but we have had a nice price action from historic resistance...

If you shorted yesterday, you could have made a nice profit (or still are in a nicely positive trade). But for me, I dont see a good oportunity now, I mean I dont know where we are going now, because when we look at 4hr chart, there is confluence of 100 MA, 50 Fib and a quite strong support (used to be a resistance), so I am not sure if it will go further down... If the price breaks the 1.64 level and then retest it, I would go short, with TP of around 1.62 or so... But we would have enter on retest to have a good risk to reward ratio.