OANDA:GBPUSD
GBPUSD formed a double bottom, breaking the resistance/neckline and simultaneously broke structure of the
downtrend, then made a retest at 50% Fibonacci PRZ with a bullish engulfing.
We may See BTC Had towards the levels of 48k and 50k as BTC is Back Testing the Old Resistance of a Right-angled and Descending Broadening Wedge we Broke out from earlier in the week which happens to align with the 55% Retrace.
If the BC leg ends here at the 55% Retrace our target will be the 181.8% Fibonacci Extension up at 50k but the lower the BC leg goes the...
I see a potential cup/handle here.
I would like to see this pullback to the 50% @ 40.30 for entry.
@ Current Price ($43), it's still a good entry considering the R/R so I have a small position. I"ll add more to my full size position if it does pull back to 40.30.
Evening Traders,
Today’s analysis – GBPJPY – putting in a bearish retest, price is to test support, the next technical trade location.
Points to consider,
- Trend bearish retest (Daily S/R)
- Support confluence (.50 Fibonacci & 200DMA)
- Oscillators diverging
- Volume below average
GBPJPY has had an initial rejection from its Daily S/R, putting in a...
