GBPUSD Cyclic Bulls Are Ready
*On time cycles, bears exhausted after 12 and 16th sessions. Today the pair is into 15th session.
Based on characteristics of cycles we can expect bulls to take a peek on 16th session again.
*The Rsi magnitude displaying weakness of this pair is about to end.
*With DXY heading towards topside trend line resistance, this pair is about to test descending trend line support currently at 1.33200-1.33300.
Expect a bounce on a test of 1.33200-1.33300 support region or wait for a move above 1.34400. The potential targets for the upside are topside trend line or atleast 100 DMA.
Based on characteristics of cycles we can expect bulls to take a peek on 16th session again.
*The Rsi magnitude displaying weakness of this pair is about to end.
*With DXY heading towards topside trend line resistance, this pair is about to test descending trend line support currently at 1.33200-1.33300.
Expect a bounce on a test of 1.33200-1.33300 support region or wait for a move above 1.34400. The potential targets for the upside are topside trend line or atleast 100 DMA.
Trade active:
As we suggested in our chart we were expecting the 16th session will be a pullback session, now the price is complementing that view. Thanks for your appreciation
