Unlucky13

Unlucky13

Not big fan of selling into corrections but look how fast the price has moved down from recent Ending Diagonals (good RSI divergence to support these). Most of the ending diagnosis retrace back to the end of wave 2 so we could see a correction down to 44.60 There could be one more move up before the correction (Although RSI suggests that may not be the...

Unlucky13

in 1 minute Looks like we could get some more downward pressure for the next few weeks. Falling volume suggests a breakout to the upside is unlikely. However the UK Inflation report on Wednesday could be catalyst for an increase in volume (increasing the chance of some more upward movement), but I do think we will move down to at least to 1.6400 this week....

Unlucky13

This is my preferred count for GBP/USD. Should definitely test 1.2300 this week and hopefully break the triangle to the downside for one final move down. From a fundamental perspective this trade may carry some risk. UK inflation has been increasing recently so we will probably get another high number that beats expectations on Wednesday which could give GBP some...