# GBP/USD Retracement Scenario (May 24, 2013) Source: https://www.tradersway.com/resources/market-info/gbp-usd-retracement-scenario-may-24-2013/ Language: en Updated: 2013-05-24 Description: Explore GBP/USD Retracement Scenario (May 24, 2013). The recent. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. The recent correction in GBP/USD is giving pound bears a chance to hop in the ongoing selloff at a better price. The pair rebounded off its recent lows and appears to be making a pullback to any of the Fibonacci retracement levels. The falling trend line on the hourly time frame is still intact as the 61.8% Fibonacci retracement is in line with the former support level around 1.5175. Stochastic is pointing upwards, suggesting that the pair could head further north before resuming its drop. ![GBP/USD Retracement Scenario (May 24, 2013)] If you’re planning on shorting this pair, set your stop above the trend line or the 1.5200 major psychological level. If the pair resumes its selloff, it could test its previous lows around the 1.5050 minor psychological support and possibly go for new lows closer to the 1.5000 handle. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/gbp-usd-retracement-scenario-may-24-2013/#primary", "url": "https://www.tradersway.com/resources/market-info/gbp-usd-retracement-scenario-may-24-2013/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/gbp-usd-retracement-scenario-may-24-2013/", "headline": "GBP/USD Retracement Scenario (May 24, 2013)", "inLanguage": "en", "datePublished": "2013-05-24T10:51:21+00:00", "dateModified": "2013-05-24T10:51:21+00:00", "articleSection": "Market Info", "description": "Explore GBP/USD Retracement Scenario (May 24, 2013). The recent. 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