My prediction for GBPUSD's completion of a third level of drop was correct. I predicted a bullish push from thursdays NYC session or for friday, possibly monday.
Thursday ended with consolidation back into "week beginning Mondays" initial Asian Range. Short sellers are likely trapped at thursdays 'low of the day', with all indications suggesting a full level of rise friday.
I'd look for a initial spike long out of fridays asian range, followed by a reversal short to the 1.9229 price area. If this area holds as the London session begins at 8 am GMT, i'll be looking to go long for a minimum of 50 pips.
Thursday ended with consolidation back into "week beginning Mondays" initial Asian Range. Short sellers are likely trapped at thursdays 'low of the day', with all indications suggesting a full level of rise friday.
I'd look for a initial spike long out of fridays asian range, followed by a reversal short to the 1.9229 price area. If this area holds as the London session begins at 8 am GMT, i'll be looking to go long for a minimum of 50 pips.