DonDimadjo
Long

Is it a time to shift direction on GBP/USD?

FX:GBPUSD   British Pound/U.S. Dollar
516 4 1
We could see a possible revesrsal on gbp/usd             . What makes me think for a long on gbp/usd             is the fact that we've seen a solid move down after the break of 1.6114 but never went back up there to test it. I'm more incline to think we'll see that level tested before a substantial move down to 1.5600 area but also there's a chance for the 1.5980/1.6000 area of resistance to hold, and after 1 move up, we can see a shift of direction again, and another set of moves down.

We also have a reverse crown(h&s) forming at the lows of RSI index , although i'm not following/relying on indicators that much, which if/once formed might be a sign for a reversal of the price.
DonDimadjo
4 years ago
so far, so good! price's moving just as i pictured last night :-) let's see which route will take on from here :-)
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DonDimadjo
4 years ago
Well, if you have followed this idea, you should have ended up with 150+ pips in the end. Anyone?
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