Looking at GBPUSD New Opportunities + Current Situation

FX:GBPUSD   British Pound / U.S. Dollar
Hi everyone
I posted the first pattern (blue) few days ago, it seems to be in a progress so far. But we should also consider the trendline that are closing in which could lead to a potential downside trade or a confirmation for the blue pattern. Secondly, we have a cypher pattern (red). I will be updating along side as the market makes moves.
Lets see and Good Luck
very good insight
So, you are long with a tight stop (in case the red pattern is in play) and reverse and go short again with a tight stop? Is that correct? You'll exit your long at 1.56+ and go short? Thanks for posting your analysis from before to show how it has changed.
Hi timwest, first of all I want to bring the current situation forward as there seems to be a triangle forming. To go back to your question, yes depending on how the market moves that would be my trade ideas. Going long on the red pattern or shorting on the other one. But anything can change when the price reaches either one of them.
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