nmike
Short

GBP USD negative diverging double top in progress

FX:GBPUSD   British Pound / U.S. Dollar
1714 13 32
A slight variation of the Fisher -Trix System, . I left out the Fisher 34 so that I would have more room to show the Trix ribbon swing action & support / resistances. Trend breaks using the Trix7 work
very well and often ahead of price trend line breaks, see sample farther back on this chart. On a weekly frame GBP finished the week with a bearish candle pattern and a close below the 10ma. On daily frame we have a negative diverging double top in progress.Near term downside target is at .382 Fib. level.
...GU found support at the .236 FIB level and at bottom of BB(34). TRIX & RSI resistances were broken to the upside and now GU is close to it's previous high. Interesting to see what happens around this level
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When will it drop? I opened short @ 1.5924
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nmike BadSector81
.....currently we have negative momentum in price action and indicators with the RSI close to a key support level, likely to hit 1.5894 near term
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T6340 if break 6140
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.....update, GBP fails to break below the .236 Fib. level, Trix 7 is now bouncing off support and RSI breaks a resistance level, likely to hit trend line resistance near term
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Never seen that Trix bubble indicator. Pretty cool!
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nmike mokcpat
@mokcpat here's one good example of a Trix bubble, higher then normal Trix reading,RSI oversold and Trix 7 far away from the rest of the other Trix lines
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bilk29 nmike
wery gud
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The breakout below the baseline looks like it could be any time now really. I'd get ready. Perhaps later today or tomorrow.
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There is a pretty interesting Double Top there. I would wait for a breakout under its baseline.
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