possible HAS pattern, it is against strong trend, so maybe good wait for neckline break (Iam in with small trade)
this is why I think a little bit bearish here, price cant stay above the purple line, it indicate at least pullback possibility and weekly doji
Comments
itaskar
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bigger HAS in play
ForceFollower
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GBPUSD has just become one of the two strongest trends.
ForceFollower
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Yeah, it's failed to make a new high, has been losing efficiency vs. the channel's slope. 1.53 will probably fail this time. On the other hand, there are still buyers there and the support at 1.5285 may show up (but it doesn't seem to be as significant as support at 1.5247 and 1.5195.
itaskar
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why are those supp levels significant for you? ..can't see nothing
ForceFollower
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It's just a matter of using the half-way points and the Ichimoku KijunSen tool. I've found them to be very useful in determining the support/resistance levels.
itaskar
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yes, I understand...here something from my
ForceFollower
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Yeah, a nice channel. Even though we're bearish, on this weekly chart it's still looking pretty much bullish. Next I'd expect a horizontal correction.