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Just keep watch what will happen...
Whats your idea?
The inconsistency between U.K parliament and E.U commission on BREXIT in October makes GBP weakened.
The inconsistency between U.K parliament and E.U commission for brexit in October 2019 makes GBP more weakened.
It Decreases step by step.
If resistance level be broken the target will be reachable.
High risk situation for buy position.
It appears buy condition will be valid.
Because of failure of the previous analysis the new one is just updated.
Since previous analysis was failed the new one shows increasing prices.
The first reversal pattern shows about 50% increase in price. The other reversal pattern is increasing wedge while hidden divergence in MACD is obvious.
Although the head and and shoulder bottom is formed, the broken support line shows decrease in Dax index.
The next step is shown on the chart.
All of the technical symptoms shows that step by step recession is the most probability which can take place.
If Increasing wedge or continuous symmetrical triangle chart patterns are confirmed, the next step is 1568$ area.
Increasing wedge on the last part of up trend means trend change,the double bottom also means change of the previous trend so because of resistance line the price will see the next steps.