edlawrence05

edlawrence05

Here we can see that the currency is now hitting the support levels of the fibonaci points determined by its recent downfall. i think that this will either stay in consolodation or breakthrough the fibonaci resitance and make its way up back to around 1.37. Hope im logical

edlawrence05

FX:EURGBP

edlawrence05 Updated 

we can see that the fib level of 0.5 has been tested and rejected and we could be looking at a possible bullish move using the 0.5 level as resistance, would put tp at 0.67237 and stop loss at the next fib level (0.66170)

edlawrence05

Here we can see that there has been a bullish trend and when the price has been hit before it has jumped down to the base of the valley. :)

edlawrence05

would sell looing at these bullish moves turning into bearish. can also see when the price has hit this point before there has been a sharp downwards tren

edlawrence05

If the major resistance on the chart is met and broken then I believe the market could see a rise and further using the resistance as support. If the major resistance is not met then I believe that we could see the market go into consolidation with the trend saying within the two major resistances marked on the graph

edlawrence05

With the recent news and the fluctuations in the GBP/USD currency pair, we could be looking at a sharp downtrend or the buildup of resistance at the top of the chart could be seen as the currency pair stabilizing and the currency pair could stay roughly similar