Here we are. I’m amazed that price went on from 1.20 to 1.25, such impressive movements from GBPUSD. I believe it’s now reached the point of exhaustion, the turning point to the heavy assault by the bulls. Here is an ab=cd pattern which has a potential reversal zone. This is the area where I believe price will reverse, however, I’m waiting for a confirmation before I pull the trigger. This confirmation will be known as a reversal pattern, once that’s been established, I predict price will go back below to test the LQP of 1.225.
Beacoup Pips.
Beacoup Pips.