FX:GBPUSD   British Pound / U.S. Dollar
The AB leg has been completed with the BC             correction reaching the 61.8 fib level, which price has tested before, so potentially the BC             correction has completed and ready to start forming the CD leg. However price action will dictate whether this 61.8 fib will hold, otherwise a deeper correction can be expected and all short positions should be held off until solid confirmation. Lower timeframe reversal patterns (4hr 1hr TF) or a break of the the TL on the RSI would all be confluence's to warrant a short.
Monthly TF exhibiting a strong bullish rally, however zooming into the weekly, the formations of doji's signify the indecision of the bullish trend and its halt in pace. thus giving us reason to anticipate that the correction has completed and a move to the downside could be in the cards.
Thanks for sharing your analyze Will, if it can be any help, my analyze :
where do you think we are aiming now?
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out