GBPUSD @ 1h @ Trading Box (1.2505 & 1.2674 ) 50th week `16
Updated
After the last selloff in October`16 we`re in an intact upside trend in GBPUSD right here right now ...
The trendline runs netween 1.2450 & 1.2500 this week (50th week `16). Prices above confirms only the upside trend!
Basic price action should be next 5 days in this trading box !?
A BreakUp (of the trading box) could imply new December`16 monthly highs - even 1.2776 & higher.
A BreakDown )of the trading box) will test the upside trend (even between 1.2450 & 1.2500) - lower prices could initiate price pressure to 1.2333 (October`16 high after selloff) & november`16 (1.2299) at least ...
Take care
& analyzed it again
- it`s always your decission ...
(for a bigger picture zoom the chart)
Best regards
Aaron
The trendline runs netween 1.2450 & 1.2500 this week (50th week `16). Prices above confirms only the upside trend!
Basic price action should be next 5 days in this trading box !?
- 1.2674 was monthly high last november`16
- 1.2505 was this month (december`16) low
A BreakUp (of the trading box) could imply new December`16 monthly highs - even 1.2776 & higher.
A BreakDown )of the trading box) will test the upside trend (even between 1.2450 & 1.2500) - lower prices could initiate price pressure to 1.2333 (October`16 high after selloff) & november`16 (1.2299) at least ...
Take care
& analyzed it again
- it`s always your decission ...
(for a bigger picture zoom the chart)
Best regards
Aaron
Note
1.2713 meanwhile :flushed:into new highs (after BREXODUS) 1.2775 or even back to upside trend around 1.2500 & 1.2450 !? We`ll see it today - and rest of this week :)
Note
as feared while start of this week ...1.2500 to 1.2450 is the make or break area - more or lesse, if iam not wrong :)
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