Rocketman

GBPUSD Weekly: Past Support Become Future Resistance

FX:GBPUSD   Pound Sterling/U.S. Dollar
35 0 5
For many hours, I didn't know what to make of GBPUSD             . So, I decided to squish the chart together, and that is when I saw resistance. Not only is GBPUSD             back in March 2010, but trendline resistance on a daily and 4 hour chart. It is also facing some bearish hidden divergence. Of course, this negativeness could all end on March 9, 2016 if the very catalyst that I am counting on fails to fall in line; that is, UK's Manufacturing Production m/m (https://gyazo.com/82c69f08953a6a1b7a130521ffed481d).

Not only is UK's PMI Manufacturing down: http://www.tradingeconomics.com/united-kingdom/manufacturing-pmi
I am also hoping that tomorrow's industrial production will also NOT be too positive like the last time: http://www.tradingeconomics.com/united-kingdom/industrial-production

The chart reflect these fundamentals clearly on a weekly chart. It just needs to start making lower lows on smaller time frames and we are all set. I am not going to guess the top because I am not a hero or a superstar, but if my analysis is right, then I, indeed, will live up to the name "Rocketman"! hahaha!
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