OwlswiftFX

Trendline and Fibnonacci in play

Short
OANDA:GBPUSD   British Pound / U.S. Dollar
The chart is pretty explanatory! All trendlines point to one point on the chart. TP 1.2970

Looking at this daily chart , you will observe that anytime the price is rejected at the upper orange trendline, it consolidates to touch the lower orange trendline. I see the same scenario happening here after the price is rejected at the top orange trendline on Nov 11th.

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Comments

Great volatility in coming there, thanks for sharing.
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your Sharingan sees clearly
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OwlswiftFX BrokerNightmare
@BrokerNightmare, 😂thanks man
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I don’t trade FX, but the TA seems spot on. Seen a few idea suggesting this, as well as shorting gold and the indexes. Both would indicate DXY is going to bounce next week. It’s near a strong support @ 92.5; & US stimulus isn’t coming soon.
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OwlswiftFX Drip_Drop
@Drip_Drop, Thanks man. I also feel the same way about DXY. My analysis on it shows it should reverse at 92.60 - 92.54 region
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