Yesterday GBPUSD brake out of downward trend.
I expect this upside reversal will continue.
Today, it is likely that gbp will shift sideways, correcting the recent uptrend, which is marked as wave 1 (green).
In mid term gbp is expected to reach at least 1.33. if recent uptrend structure holds.
light blue line with upward slope should serve as support. its breakout will question uptrend assumption.
I'll provide updates when situation clarifies.
I expect this upside reversal will continue.
Today, it is likely that gbp will shift sideways, correcting the recent uptrend, which is marked as wave 1 (green).
In mid term gbp is expected to reach at least 1.33. if recent uptrend structure holds.
light blue line with upward slope should serve as support. its breakout will question uptrend assumption.
I'll provide updates when situation clarifies.
Giao dịch đang hoạt động:
It is already moving
possible structure abc - expending flat.
I missed time to post this alternative, which I also considered.
possible structure abc - expending flat.
I missed time to post this alternative, which I also considered.
Giao dịch được đóng thủ công:
confirmed.
GBPUSD broke the structure. now it's likely to continue falling.
it might form more complicated pattern to the upside too.(unlikely)
eventually I forecasted not an short term 85pips move to the upside, but only intraday ending move. entire structure appeared to be a correction to resume downward trend.
GBPUSD broke the structure. now it's likely to continue falling.
it might form more complicated pattern to the upside too.(unlikely)
eventually I forecasted not an short term 85pips move to the upside, but only intraday ending move. entire structure appeared to be a correction to resume downward trend.
Bình luận:
since last update, which called for downtrend continuation, was published, GBPUSD has lost 90pips
then rate surged 300pips, probably starting a new mid-term uptrend.
mid-term targets are: 1.324 1.353
then rate surged 300pips, probably starting a new mid-term uptrend.
mid-term targets are: 1.324 1.353
there might be a possible alternative to the downside, which should be considered.
gbp has broken minor upward structure, which was formed with that spike in price.
entire price movement may be an ABC correction, after which downward trend resumes.
current support level 1.2863 (light blue line with upward slope).
break below it may trigger strong selling pressure or at least change entire upward structure.