All the information is plotted on the chart. I think we will see a move back up to form a b wave, maybe forming a H&S pattern. If price goes under the 50% Fib plotted, that would also mean under the channel, probably we will see the strong move down everybody is looking for on this pair.
Comments
vlad.adrian
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position closed after reaching the 1.62000 barrier, forming the right shoulder, as predicted. I am now going to watch for the big short everyone is expecting
Razvan
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It looks pretty bearish for me. If it will close under the trend line...we will see a weaker pound.