FX:GBPUSD   British Pound / U.S. Dollar
230 4 8
After following this pair over the past few weeks we have had some very nice profitable setups and some big movements.
Price has now hit the bottom of the wedge and is now retesting the interim level of resistance at 1.5230 which is also in line with the 23.6% Fibonacci extension level.
We have also now had a Daily break and retest on the ascending trend line .
Fridays candle finished up as a Doji show indecision at the current market price.
I would like to see a Bearish closing candle Monday evening to look for a Short position down to Fibonacci D1 at 1.4970
great analysis, by the way we are going long if it breaks the upper channel blue contracting line
LFX KayJay
That depends on the circumstances of the break and the other timeframes. But that would be taken into consideration if we approach that zone.
thank you so much for your advise :)
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