robertdewick

GBPUSD - Monthly - 30/12/18

FX:GBPUSD   British Pound / U.S. Dollar
Starting from the Monthly trend, which has been bearish since May 2014, you can see we've been making lower lows and lower highs.

In April 2017 we saw a breakout from 6 months worth of consolidation, coming back to retest the zone in June before making its' way higher forming a lower high at the 50EMA. Was this a correction or the start of a new trend? Could it be that the 6 month consolidation was accumulation building?

In the month of December 2018, we have formed a small/medium low-test candle back at the demand zone /possible accumulation. Could this be the first signs of a higher low forming on the monthly?

Let's look closer, moving down to the weekly.

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