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Short

GBP/USD BEARISH A,B,C,D pattern in play. P.A

FX:GBPUSD   British Pound / U.S. Dollar
Again been monitoring GBPUSD             since i called the reversal at 1.7000 (on my Youtube channel)

Broken Daily ascending Trendline and fulfilled both targets (point 1+ point 2 of trend line )
attached FIB from the significant high to the morning star formation around 1.6100 to form FIB B..

Seen a slight retracement due to the scotland vote back in september which was a volatile manipulative move before crushing buyers and simply fulfilling a technical FIB retracement level (38.2%)

was easy to zoom into lower timeframes to get a refined viewpoint of P.A and multiple Counter Trendlines could have been attached in order to give great entry confluences to the downside with targets being located around -27% D FIB extension (first of all)

We broke that D FIB alone with a false bull break and whipsaw of the daily Descending T.L around 1.5734...
Now expecting this pair to crash down to 1.5300-1.5350... a break here will most deffo lead to 1.5000 + 1.4900 (2013 weekly double bottom lows)

Hi astroforex
+1 Reply
Very Informative, thank you
+1 Reply
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