Week 13 GBPUSD Tue 12pm Update

Though we might have the bigger picture that price may break low, the question is we do not know when.  With new market information, we see that price might be moving up before any possible down move.  Thus it's either we do a buy now then sell later.  Not forgetting price has dropped a lot, it might need some retracement and if it forms an ABCD, then it would be perfect.

If you are an day trader, then it would be easier to follow the price development.  If you have less time to trade, then waiting for a good sell setup at the imagined point D would be a better choice.

There are many options in trading, even a sell at current price may not necessary means you would lose.  It all depends how you plan and manage your risks unless price shoots all the way past last high without good retracement.  (Hint* grid trading)