As you can see on the 1 hour chart, price has broken out of channel and dropped to pivot. We can see a bullish engulfment candle at the pivot suggesting price may be moving up to retest the channel. I am hoping to get a rejection at the 0.382 fib level as that is a demand zone. I will be waiting for price to see if it could move up to my demand zone and see if we...
Here is what I see for GBPUSD.
I see a head and shoulders pattern forming. The neckline of the pattern is inline with a support zone, if price can melt and turn support to resistance than we might
get a drop from neckline to end of lowest point of H1 Support.
Potentially we could see a bigger drop if you check 1D Chart and H4 Chart.
Will also publish those...
This is what I see with GBPUSD.
Going to wait for a confirmation at around levels 1.268-1.27. for a short position.
If EMA65 and the support turned resistance can hold then we could see a big drop of around ~150+ pips.
Daily Chart shows strong support and resistance levels at 1.27 also
If we see a drop id say target should be at around 1.25 but could...