ForceFollower
Short

GBPUSD H1: Correction

FX:GBPUSD   British Pound/U.S. Dollar
This has been a very nice rally. Market has just found support at the prior high and the median line . However, given the long-term context of a down trend, I expect a further decline - at least a retracement of 23.6%.
Of course one might also draw this pitchfork - price may be on its way to the lower ML parallel.
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Hi buddy !

Your trade seems a bit risky and the risk/reward ratio is not so high. But the bears could, indeed, correct the rally. Good luck for this one !

Best Regards,
Serge
+1 Reply
ForceFollower Mirandole
Thanks, Serge! The big down trend should exert its force eventually... But, of course, nothing is for sure. :-)
+1 Reply
Well done! Didn't miss this one :)
+1 Reply
Excellent! It's nice to book some profit at the end of the week.
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HexVex ForceFollower
Drank half of it already :) Glad you're back! You're the only friend I have on this site.
+1 Reply
You're welcome.
LOL. It's worked like in the Star Wars new sequel: The Force Awakens. :-)
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On the other hand:
Zigzag in GBPUSD
Reply
On the other hand:
Zigzag in GBPUSD
+1 Reply
ForceFollower OccultTrader
Yes, it's a very likely scenario.
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Agreed 100%. The Pound has a long way to fall still, this was temporary corrective strength in my opinion.
+1 Reply
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