The August rise has been retraced while the support holds.
The impressive spiketoday has been corrected already but the remaining gain is large enough to form an inverted hammer which gives hope for more gains.
The falling resistance indicates a retracement down before a renewed attemt to spike higher.
The 50 % retracement since September 5th has been just completed. Time to tae a new first long position.
The pound is bottoming now. The trend may change.
The breakout and the large volume today may indicate a further rise.
that this has been the due correction already. So the trend may continue, perhaps, probably.
and here with KO as well. The more tha the break though the MA 38 is supportive now.
We are testing the previous resistance from the upside now. This is now a support and seem to hold.
We can see, that the resistance at the top from begin of August held. So we can expect the continuation of the uptrend. The hammer just formed supports this idea.
Near the support a retracement is starting.
The risefrom the low of 1.1785 has been completely retraced by 68 %. As here is a support another attempt to the upside is likely.
May be we will trade in a range for a while but at least we may see a test of the downside now.
I am speculating for another retracement. We are still in an uptrend and the short term support held.
The recent rise has been retraced by almost 50 % now and the support seems to hold.
We are still in an uptrend and now we formed a new high. This makes me expect that we may see higher highs again.