GBPUSD TECHICAL ANALYSIS potentially turning 14th/15th January
Hi All,
Hope that you have all had a nice Xmas and New Year and that you have not put on too many pounds of the non cash variety. Sorry that I have not made too many updates lately.
The GBPUSD has a potential turn in time for either today or tommorrow. As of this moment there is a perfect abcd formation on the daily. There is also a .78% fib ratio of the last swing, sometimes these ratios work together to provide additional resistance. I also have a saw wave pattern on the lower time frame chart hitting a good ratio of 2.618 so there is a high probability that this is the top. I have sold at 1.62985 stop at 1.63345
Happy Trading!
Tagged as: Currency Trading · forex · Forex Trading · GBPUSD · GBPUSD Daily · Technical Analysis
very good analysis . good luck . i m waiting for confirmation to short it as DR1 1.63361 when it gets in the zone to test it , all the best
nice and simple analysis. actually my D(prz) has just been hit at 1.6345 on 4hr TF and i have PO at 1.6319. hoping to have a nice run till 1.6210
nice analysis mike
We had a choppy day, with no real break out at all. The 100% level held for a while, but broke towards the afternoon. This evening the market touched the 110 level at 1.63447. You can wait for the move down and the retrace back up, its a lot less risky and 99% of the time they occur.
All the best
Mike