FX:GBPUSD   British Pound / U.S. Dollar
77 6 2
D comes right in at previous resistance/ support, 1.68 ext of AB and 0.681 retracement of initial large leg. A close below 1.67695 is all we need to reach 1.6666 (nice number dont you think?) Good luck
you mean from a fundamental point of view?
ForceFollower HamzaLeith
Based on my technical analysis. :) This market is in an up trend and even though this correction is very deep indeed, I don't think it could go any lower than any of those dashed lines below:

HamzaLeith ForceFollower
Honestly I started trading not that long time ago, so my analysis may be too basic. I do my best to base my ideas around structure and Fibonacci ratio's, with projections there is always a degree of uncertainty. May I ask which technique you use?
ForceFollower HamzaLeith
Sure. :) I use many methods, but above all I use median lines, which are pitchforks (Andrews, Schiff etc.) plus their sliding parallels. I also use action/reaction lines, Fibonacci retracements and APPs (alternate price projections, also known as extensions, although they are a different tool). I also pay attention to the currency relative strength.

If you're in touch with me on tradingview, you'll learn it all with ease. You can drop me any questions you have via PM (private messaging, on the right-hand side panel). There are other guys here that use these techniques as well, eg. itaskar, wuweitrader, FaultyKid, and many others. I'm in touch with all of them.
HamzaLeith ForceFollower
Thank you, I will definately start studying it, Always nice to have a more comprehensive understanding of technical analysis especially when it is made so accessible on a t medium like Tradingview, these guys are awesome. I will closely follow your ideas.
No, it can't go that low... :) I don't think so...
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