Pip-thief
Long

GBP/USD LONG WITHIN BEARISH GARTLEY

FX:GBPUSD   Pound Sterling/U.S. Dollar
109 0 0
I don't believe that current economic sentiment in the UK is bad enough to push price into the 49's over the coming weeks, especially when talk in the uk very much indicates a rate hike which is just a matter of time. The 618 fib retracement of the A-B leg forms point C at 1.50829. This price is previous support. Price currently rests around the lower price channel trend line . If price continues lower this week I will look to enter LONG around the 1.50820 area. The harmonic AB-CD             pattern which is contained in both bullish and bearish gartley patterns has price arriving at point D, roughly the .78 retracement of the X-A leg but that isn't reached until next year should the pattern play out. My opinion is to monitor price on the 4H and daily time frame and await a bullish pattern to form around the point C price area to add confidence to a long trade.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out