Base on 4h Chart spotted ABC pattern. Might heading to 109.985 trend line if break may go towards 110.258 and beyond to retest the highest point. if worse case scenario going down to expected zone are which is 109.239 low.
There's a short term consolidation spotted on a 4h time frame chart.
Will the consolidation be break after the news event?
highly possible.
How high would the bullish goes?
Could be around range 81.000-81.560 or if it breakout may even go higher.
This is just my opinion what do you all think?
Leave a comments for discussions.
Thanks for reading.
There a strong resistance ahead of GBP/USD. Once strong resistance broken through successfully might bullish long and forming bullish trend with provided the GBP have the strength to overcome USD strength.
USD is balancing gold price right now and will continue to do so until gold is balanced.
To balancing gold USD will have to tone down awhile, therefore USD will be on temporary bearish while quota pair will gain boost.
