GBPUSD Long ABCD Pattern Long

British Pound/U.S. DollarFXCM

Description

⋅ Oct 19, 2016 11:53 AM

This ABCD pattern compliments the previous breakout to the upside.

⋅ Oct 19, 2016 12:54 PM

⋅ Oct 20, 2016 10:20 AM

Will we see a breakout to the upside?

⋅ Oct 21, 2016 10:38 AM

61.8 retracement invalidated, however this ABCD pattern may still be valid with the c-retracement at 50%, and target being 150% fib.

Comments

debainnoob

⋅ Oct 19, 2016 2:21 PM

On the back of a seemingly positive reception to the just released rate decision be the canadians, USD is set to weaken, driving up the GBP.