skai
Short

cable down trending

FX:GBPUSD   British Pound / U.S. Dollar
338 2 2
Lets keep it simple. Weekly chart is quite bearish (my previous post).
On daily chart cable has just completed its up elliot . 0-4 line has been breached on the downside after a nasty but logical reaction to that line. With this we have a down wave ongoing. The question now is momentum.
No big charting, nothing complicated. A level that has been a support twice has been broken. A rally followed, giving the needed momentum to hop into the down wave.
I'm bearish for cable here and with real money.
i think the wave 5 not yet come . i believe we are now in wave 4
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skai MylonasTasos
lets see how gbpusd behaves within the channel 1,59-1,625
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