gringerman

GBPUSD - D1 - Trend Analysis

CME:B61!   British Pound Futures
I have published a GBPUSD             trend analysis daily chart . This futures chart is supporting the analysis published in the other chart.
Yes, the bull trend may be slightly weakening. But I don't think it's over and done. Now that the AUD has fallen out of favour of most investors, I think the sterling took over from it. So I expect to see new highs in this ccy.
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gringerman ForceFollower
Thanks ForceFollower, I will be observing how price behaves. If it does form a lower high and a lower low, we will be in for a correction. Currently, it is very delicately poised with the top of the last daily bar against the short term median line, which is the resistance. If I am already long, I will be tightening stops. But I am out of it. So, won't be initiating any new longs. The previous trade on GBP did give some nice profit. I will be staying out for now and watching how price action develops. Good luck!
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gringerman ForceFollower
I did post another trade on AUDJPY (wrongly titled as AUDUSD), which is going in the direction I indicated. Took a small position on it, which is doing well. Let's see how things develop.
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Refer to the analysis in the attached chart.
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