GBP/USD swing has played out almost as expected
CABLE touched the 50 fib, dropped, then came back up and tested the next fib zone at 68
Price action rejected nicely at this point followed by very nice bearish momentum
CURENTLY, IT APPEARS AS IF GBPUSD IS RETESTING THE TREND INTENSITY AND SHOULD NOT BE RETESTING AS DEEP
Target is painted by our FIB EXTENSION
Keep your charts clean and keep your trading simple. stick to your plans
CABLE touched the 50 fib, dropped, then came back up and tested the next fib zone at 68
Price action rejected nicely at this point followed by very nice bearish momentum
CURENTLY, IT APPEARS AS IF GBPUSD IS RETESTING THE TREND INTENSITY AND SHOULD NOT BE RETESTING AS DEEP
Target is painted by our FIB EXTENSION
Keep your charts clean and keep your trading simple. stick to your plans
Note
HERE WE SEE CABLE TOUCHING H4 TRENDLINE AND PRICE ACTION RESPECTING THE BEAR TREND
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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.