Hi,
Price is trap between 50% of long brown swing and 1.1500 level. Look like price is going no where. This is very clear on H4 chart:
at the end of the swing we can see divergence. But be aware divergence do not mean trend will reverse, this is just indication that price makes some correction at this time.
Price just passed 25% of the last blue swing. Momentum is in the neutral stage and this is the reason price is not advancing either way.
Cheers,
Jim
Price is trap between 50% of long brown swing and 1.1500 level. Look like price is going no where. This is very clear on H4 chart:
Price just passed 25% of the last blue swing. Momentum is in the neutral stage and this is the reason price is not advancing either way.
Cheers,
Jim
Comment:
My apology for using wrong tags for GBPSUD this should be EURUSD
Comment:
The moment of true. Price just right on 50% of the last swing, now price will either accelerate or will slow down.
Comment:
Halfway level it's very strong resistance/support level. price just return bellow 50% of big swing.
Comment:
Perfect reverse at 75%.