pezq
Long

Cable threatening upper levels

FX:GBPUSD   British Pound/U.S. Dollar
55 0 2
Cable is clearly probing upper levels and according to this analysis has already entered a channel. It's easy doing this sort of construction to get carried away with your own theory regardless of how objective one wants to be. Fibonacci has an inherent danger because analysis can be equally valid at certain levels to go long or short depending on which way the price flips. I have done this analysis three ways now and all come to the same result. I would appreciate any constructive critique in case I have made some glaring error. Tighten your seatbelts for what could be a rollercoaster with fundamental world events hotting up. Lets hope it doesnt end like ironically named "Smiler".
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