AndyM
Long

High prob for upward movement in GBP

FX:GBPUSD   British Pound/U.S. Dollar
Yesterday GBP has completed the formation of a beautiful triangle with exceptional upward thrush afterwards, which brought is to 1.5520. I suspect the upward movement was not wave 5 of the impulse, but rather wave A of C of a double zigzag that the market may be tracing. Therefore we need to closely watch the formation of the corrective pattern between 1.5415 and 1.5520, as chances are high that the market will not head down, but rather up, in the area of 1.57-1.58 in order to complete the symmetric shape of a double zigzag. This correlates with EUR as well, as EUR still has one upward movement left which would complete the ending impulse of the flat corrective pattern.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out