This is my thoughts about what is happening with AUDUSD. I feel like it is going to complete the pattern and then reverse from the strong support area of 0.7389.
I think we have a shark pattern on EURGBP nearing completion, along with a breakout from the descending wedge that is being formed. The 4-hour CCI is exiting the oversold zone. I am waiting for the price to retrace back to the 88.6% level at 0.8542 before buying, which would confirm the validity of the shark pattern. If so I would expect the price to rise up to...
It looks like GBPUSD is forming a butterfly pattern and the 4-hour CCI has been extremely overbought. The descending trendline and the flat resistance are aligned with the 1.3992 level of the potential D point. I am waiting for the price to rise up to this point, where I think is a good place to sell. Then I expect a breakdown and decline to the support area of...
The price of GBPUSD is now trading between 1.3775-1.3912. I am waiting for further reactions indicating plausible moves in either direction. If it breaks to the upside, the price might rise up to complete a butterfly pattern and reach the 1.3992 level of the potential D point. If it breaks to the downside, the price might retrace and test the top of the descending...