Here I have GBP/USD on the 30 Min Chart!
Price has found Support from the July Highs!
Upon reaching the Low @ 1.30493 I notice a couple things:
-Price is moving Lower, RSI is moving Higher = Bullish RSI Divergence
-Price has created what looks to be a variation of the Harmonic Crab Pattern (not exact values)
Harmonic Crab XACBD Values:
X-B ( .382 - .618 )
A-C ( .382 - .886 )
B-D ( 2.618 - 3.618 )
X-D 1.618
We continue to see price move higher and I believe we will see Higher Highs up to the 1.3130 - 1.3140 Area!
Fundamentals:
GBP has been positive in the analyst eyes this week with the Claimont Count Change with impressive numbers and Unemployment down from 4.2% to 4.1%!
-GBP will have GDP releasing Wednesday Sept. 11th with forecasts to be Positive!
USD not only has Rate Cuts starting next week but this week is heavily loaded with CPI & Core CPI Wednesday along with PPI, Core PPI & Unemployement Claims Thursday Sept. 12th!
Price has found Support from the July Highs!
Upon reaching the Low @ 1.30493 I notice a couple things:
-Price is moving Lower, RSI is moving Higher = Bullish RSI Divergence
-Price has created what looks to be a variation of the Harmonic Crab Pattern (not exact values)
Harmonic Crab XACBD Values:
X-B ( .382 - .618 )
A-C ( .382 - .886 )
B-D ( 2.618 - 3.618 )
X-D 1.618
We continue to see price move higher and I believe we will see Higher Highs up to the 1.3130 - 1.3140 Area!
Fundamentals:
GBP has been positive in the analyst eyes this week with the Claimont Count Change with impressive numbers and Unemployment down from 4.2% to 4.1%!
-GBP will have GDP releasing Wednesday Sept. 11th with forecasts to be Positive!
USD not only has Rate Cuts starting next week but this week is heavily loaded with CPI & Core CPI Wednesday along with PPI, Core PPI & Unemployement Claims Thursday Sept. 12th!
Note
Here we can see the DXY has also made a Divergence with RSI but of the Bearish version!
Trade active
Price dropped down and retraced to the Golden Fib Zone and already has been rejected back out!
Buy Entry @ 1.3070
SL @ 1.3050
Trade closed manually
Closed trade on inability to break Swing High!
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.