LADEEc57
Long

$GBPUSD - Here's How I See it

FX:GBPUSD   British Pound / U.S. Dollar
34 0 4
FX:GBPUSD             Price action set to retest the newly formed intermediate rising trend line connecting both troughs created in Aug 15 & Sept 20th formation pattern shown in yellow. However, a shorter term declining trend line , shown in purple, continues to emerge as price action is unable to puncture above this trendline . Furthermore, a medium term downward sloping trendline , shown in white, gives us an idea of how narrow the price action range has been in the past. Solid support is seen at the 1.2873 level shown in red, a move below that level would indicate a search for post Brexit lows maybe in the works. I down't see this happening, because that would mean other cross pairs like: EURUSD             , AUDUSD             & CADUSD             will also seek to resume to post Brexit lows, and confirming a strengthening USD currency, as well as both weakening commodities & oil             prices. A repeat of late 2015 patterns ? Not.
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