GU IS CURRENTLY IN A RANGE AND HAS BEEN FOR A WHILE. LOOKING FOR A BREAK OUT TO FOLLOW THE TREND UPWARDS TO THE NEXT LEVELS. HOWEVER A POSSIBLE DOWNTREND CAN BE CREATED AS SHOWN. AS USUAL BE ON THE LOOK OUT FOR STRENGTH AND OTHER FACTORS THAT WILL AFFECT YOUR THIS PAIR.
HERE ARE SOME POSSIBILITIES THAT MAY OCCUR THROUGHOUT THE NEXT FEW DAYS. HOPING PRICE TO CONTINUE HIGHER JUMPING INTO THE MONTH OF FEBRUARY. IF JPY LOSSES ITS STRENGTH THE TREND CAN START AS SOON AS TONIGHT LEADING INTO LONDON. IF THERE IS STILL SOME STRENGHT ON JPY PUSHING GJ DOWN IM LOOKING FOR A SHORT TERM COUNTERTREND TO THE MAJOR LEVEL OF 142.000 THAN...
GBPUSD LOOKS MORE BEARISH THAN GJ BUT THE MID LEVEL CAN SAVE THE BULLISHNESS. HOWEVER YOU WILL NEED TO WAIT A BIT LONGER FOR THE BUY TO TAKE PLACE. TYPICALLY WAITING FOR A 123 PATTERN. KEEP AN EYE OUT FOR THIS ONE!!!
I EXPECT GJ TO REVERSE AND CONTINUE BULLISH DUE TO THE FIB RETRACMENT AND MAJOR PSYCH LEVEL CONFLUENCE. HOWEVER IT CAN VERY MUCH CONTINUE DOWN DUE TO USD BEING STRONG AND JPY HAVING A CONFLUENCE WITH IT PULLING PAIRS DOWN. SO IT WILL HAVE TO JUST COME DOWN TO PRICE ACTION AND TIMING... BE ON THE LOOK OUT!!!
LOOKING FOR A COMPLETION OF A HEAD AND SHOULDERS PATTERN ON THE MAJOR PSYCH LEVEL OF 142.000 THAT WAS ONCE A PREVIOUS TOP FOR A REVERSAL IN THE PAST. IF THIS LEVEL GETS BROKEN WE CAN PLAN FOR A HIGHER LOW OFF OF 142.000 TO CONFIRM A SUPPORT AND CONTINUE BULLISHLY WITH SOME MINOR EARLY CHALLENGES POINTED OUT ON THE CHART.
SOME PLANS I HAVE ON GBPUSD LOOKING FOR MAINLY SELLS COMING OFF A DOUBLE TOP AT A MAJOR PSYCH LEVEL OF 1.37000. THESE ARE SOME POSSIBILITIES THAN CAN HAPPEN DURING THE ASIAN SESSION LEADING INTO LONDON FOR POTENTIAL SELL SETUPS. IN ORDER FOR THIS TO BECOME BULLISH AND HAVE A CHANCE AT A RALLY UPWARDS IT HAS TO MAKE HIGHER HIGHS LEADING UP TO 1.37000 AND BREAK OR...
