dericksim

GBPUSD a relationship between 4h and daily chart

FX:GBPUSD   British Pound/U.S. Dollar
21 0 5
Daily still failed to stand above EMA 9, however EMA 27 is getting lower by the day. Still following the trade via 4h chart. MIDAS line should provide significant support and should not break. There should not be a single candle to close totally below this line. There is another 2 more days before we put the long red candle in the rear view mirror. Till then any attempt to to close above 1.35 will be futile.

For those who use MACD will be asking why there is no reaction on the daily MACD gold             cross. Reason is simple, price has yet to conquer EMA 9.

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