yes.. but for more confirmation it needs to close 4hr candle above 1.91 figure... we have double bottom in place and now it is above neckline of it.. so 4hr candle closing above 1.91 will bring massive rise towards 1.92.3 and 1.96
i think it is done downside.. only consolidation.. it is close to big support now.. so some action upside coming on way.. regarding gbpusd i am bullish and i thik we are going for 1.47 now.. so it will go for 2.0 and high soon
I feel obliged to tell that this is not a valid wedge and that is not a valid break-away. This one will most probably be a loser, depending on your targets. If your targets are tight, you may have a nice scalping profit though.
It seems like some has capped upside at 1.9085 area :) aud fallen 100 pips but not so much effect as per normal gbpaud movement due to capped area of 1.9085 - 1.91.. This is something fishy.. though gbpaud closed successfully last 2 candles of 4hr above 20 ema.. but still capped below 1.91.. RBA minutes in asian session... lets see what we get!
If we check price action of gbpaud from last 3 sessions then it is making base below 1.90.. it kept nicely lows of thursday and friday and now we have 2 double bottoms.. it created 1 today right at friday low.. so keeping that in mind.. it seems it will rock upside for 1.95 but price action close to 1.9085 is fishy :)