What is the fate of GBPUSD now? I mean it looks highly oversold at the moment. Can we expect a bounce back in this coming week? My EA started buying it when it was 1.7150 and since than the EA is doubling the trades and now I have like 2000 USD draw down. What you think guys will it be bullish anytime soon?
Right now I have about 3800 USD free margin and my last opened position volume was 0.33 (Leverage 1:500). My EA started opening buy trades from 0.01 then 0.03, 0.06, 0.09, 0.15, 0.21, 0.27 and lastly 0.33 and after that I stopped EA from opening further trades by disabling it.
Now the pair is started to behave bullish but what I read on other sites that this bullish trend is possibly temporary and the pair is expected go down further. What do you guys think what is the maximum lowest it can go and when a pull back to bullish trend is expected. Below is screenshot I took:
Direct link to large clear screenshot: http://oi60.tinypic.com/xpa7g1.jpg
Please help. I am worried! Shall I add more money in my account or will my account survive itself!