* Fibonacci of 76.4% of the entire wave from 0.9800 zones to 0.8640 areas wasn't even touched.
* Negataive candlestick formation is underway!
* Bearish diveregnce on RSI14.
* Sell stop could be placed below 61.8% Fibonacci @ 0.9330.
*Under-construction cup with handle is in play.
*Breakout above 12.45 is required to affirm the classical pattern.
*Momentum and trend indicators are positive, reinforcing our constructive bullish overview.
1-Bearish harmonic AB=CD is in play now after clearing 1142.00.
2- A breakout below 1130.00 will accelerate.
3- trend and momentum indicators are negative despite RSI entering oversold regions.
4-Fibonacci projection of 200 % for the BC leg is at 1053.00.
We can see signs of recovery over daily basis as follows:
-The pair has formed morning star candlestick.
-The probability of forming positive divergence with momentum indicator increased with Stochastic finding support.
-Aroon (down) shows signs of bearish trend stoppage, moving slightly downwards.
Despite the sharp inclines seen on the GBPUSD pair, but actually, prices have been dominated by a fine Fibonacci rhythmic as seen on the provided eight-hour graph.
Read More: http://www.fxcomment.com/?p=14277
Wrote yesterday, “EURGBP still aiming to inch lower” depending on all negative signs appeared over daily studies and we should have been able to clear 0.7200 psychological.
Read More: http://www.fxcomment.com/?p=14261
In our previous technical comment of the GBPAUD pair (published on June 12), we have suggested strong upside wave after stabilizing above the psychological level of 2.0000.
Read Full Article: http://www.fxcomment.com/?p=14226
Daily studies of CADJPY show that, the pair has been topped out in the 101.00 zones where it declined, influenced by facing the median line of pitchfork channel.
Read More: http://www.fxcomment.com/?p=14176