GBPUSD Reversal Pattern

FX:GBPUSD   British Pound/U.S. Dollar
55 0 3
11 months ago
On the higher timeframes you can see GU respected the major monthly support line at 1.38. Prior to that you can see high volatility in price as it approached that level. This is similar to my GBPJPY             trade where you can see hints of bulls coming into play. So, my play here is to go long and to find a good entry position. Price is hitting a good confluence area at the 1.41 area with the ascending trendline starting from the lows at 1.38, the retest of the descending trendline which partitioned the bullish channel price is currently in, and with the 61.8% fib retracement. Looking to go long to 1.49513 where prices should meet the long term descending trendline .
10 months ago
Comment: price finally jumped back into the channel convincingly. on route to 1.48
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out