We are currently following a comfortable pattern hitting A.B,C,D waiting on E
Daily formed at 1D (0.833) which is a strong indication of a reversal.
Heiken Ashi should turn Blue ( ) tomorrow if price follows reversal candle, setting price up for a move towards 1D resistance
SL: Below 1D support
Where do you stand with price ranging during the uncertain UK economy and the added stress of cracks forming through the EU? Do you personally feel we may break from it soon due to great UK data over the past weeks or stay stagnate until stronger deals and relationships are forged from the UK around the world to give a better picture of how the Uk is going to rebuild itself?
Either way it appears we have a complete 5 wave up move in the eurgbp on the weekly so a retracement is a reasonable expectation which we have had (or still having right now)
We have has 3 weeks of downside in the eurgbp and price put ina hammer right at support so there is a possibility of some retracement before the next downside (basis the weekly idea)
Sorry about the wordy reply - just thinking aloud here
Would like to know all of these and how they plan out, I suppose thats the next step for me!