nmike

GBP / USD update

Short
FX:GBPUSD   British Pound / U.S. Dollar
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2
NEAR TERM TARGET: 1.5781

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..support broken ...
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......a good example of a NEGATIVE DIVERGING DOUBLE TOP. The grave stone DOJI at the top of the KC band ,6 bars ego, was a warning of a TOP The official short signal came after a long upper tail engulfing candle closed below channel.Now we have price at key support,Judging by the BEARISH candle stick pattern and still falling STOCHASTICs, it is likely that GBP will break support. If support is broken, the next down level is the bottom of red CLONE channel and or last pivot low.
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STOP & REVERSAL TARGET reached...(HAPPY HOLIDAYS)
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>>>BIG GREEN candle back inside green channel,stochastics turning up, reverse to LONG.Target: 1.6145
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