Price has formed a descending triangle, if we get a breakout to the upside I will enter a long position upon the retest of the 1.31900 zone. Conversely, if we get a decline, I will go short upon the retest of the 1.30000 area.
Burger or Fries? ...... I don't even mind - Always FLOW WITH THE MARKET :-) x
Price was travelling in a down trend, been held down by a descending trend line however, it has now broken out of the trend into an uptrend and has also formed an ascending channel.
Price is at the bottom of the channel, indicating buy orders gbpusd
Looking at the GBP/USD on the daily timeframe makes the diagonal structure starting on the 25th January clearer. From the 27th February, cable has remained within a 350 pip range and as price consolidated, continued to range within what is believed to be a larger diagonal structure (25th Jan). The larger diagonal structure also ties in with the...
We can see price turning and making a bearish run once it enters our zone, we can also see price breaking our trendline so price should drop quiet a lot.
There was quiet a bit of strength surrounding GBP last week and we can see that calming down a little this week.
Brexit is just a money making conn anyway, do you really think the people of the UK have a say if...