dollar not doing good, but pound doing worst
sucker currently GBPUSD is in a descending channel inside a bigger rising channel formed in 2020.
the sucker should go down on a tecnical point of view. could go straight down or start bouncing on that grey dynamic resistence giving birth to a descending wedge.
the first scenario would bring new lower lows possibly breaking the year trend
the second one would make him (the sucker) meet his long time friend(the trend) not on lower lows, indicating a bounce off, like it did in 4 occasions since entered the channel.
RSI divergence, once again the sucker should go down
i personaly think that scenario 2 is more likely to happen, maybe not a so long bounce like in the graph.
looks like a wxy correction of a descending 12345 (guess it's a ABCDE)..but on this one i would like to hear some wave analyst. not so familiar with it, any how i leave it in pink fore you to see.
please comment below and give me your opinion
thanks for your attention
not financial advice, i'm a chef, a good one, but only a chef, not an analyst.
the sucker should go down on a tecnical point of view. could go straight down or start bouncing on that grey dynamic resistence giving birth to a descending wedge.
the first scenario would bring new lower lows possibly breaking the year trend
the second one would make him (the sucker) meet his long time friend(the trend) not on lower lows, indicating a bounce off, like it did in 4 occasions since entered the channel.
RSI divergence, once again the sucker should go down
i personaly think that scenario 2 is more likely to happen, maybe not a so long bounce like in the graph.
looks like a wxy correction of a descending 12345 (guess it's a ABCDE)..but on this one i would like to hear some wave analyst. not so familiar with it, any how i leave it in pink fore you to see.
please comment below and give me your opinion
thanks for your attention
not financial advice, i'm a chef, a good one, but only a chef, not an analyst.