The downwards trend that formed for around 2 weeks has been broken to the upside after downside trend break has been rejected. After a retest of the support and a new channel being formed with higher highs and lower lows.
This is a very volatile space however the USD is predicted to weaken next week which could cause some upside to the GBP and a retracement to the 31% fib level after a heavy sell off last week , I am probably aiming for around a quick 80 pips to be on the safe side but the potential for around 400 pips possible in the long run.
Please comment if you disagree
This is a very volatile space however the USD is predicted to weaken next week which could cause some upside to the GBP and a retracement to the 31% fib level after a heavy sell off last week , I am probably aiming for around a quick 80 pips to be on the safe side but the potential for around 400 pips possible in the long run.
Please comment if you disagree
Comment:
Line and fibs are a tad wonky but you get the idea...