We have a Head & Shoulders variant on the 4h for GBPUSD so we expect price to continue to fall. However, has reached a support level and may bounce a bit before its continuation lower. If price breaks through the downtrend it may render the short invalid.
@Mela1, it broke the dotted line so should retest the yellow line
Mela1
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@ElemontFX
Right
thanks
Mela1
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hello,
What do you think about this move ?
wait your news.
thanks...
Elemont
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@Mela1, looks like it will either bounce off the dotted line (if you extend it) or retest the yellow uptrend line
Mela1
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@ElemontFX
Ok ..thanks.
will be good...
Mela1
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Hello,
What do you expect after this move ?
your target price ?
Thanks.
Elemont
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@Mela1, Right now there is resistance but price is still uptrending. If this makes a new high now, next resistance around 1.2470 and then major resistance at 1.2640. They would be the targets
Mela1
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@ElemontFX,
Many thanks for yor reply, and for your support.
Any news ?