GBP/USD short
GBP is struggling to keeps is upwards momentum . a few weeks ago we was rejected at around 1.5650 and have struggled to hit that area or resistance again.
First confluence.
ABCD Fibbonacci being played out currently just below point C
Second is i have ascending trend line stemming back from the lows off 2009 and we have just came back up and touched it
we also have a descending trendline from point A on the fib possibly a third bounce and a drop to the downside
Third Moving averages are to the downside on the monthly and weekly time frame.
Fourth this is that we have now made 3 Lowers highs from point A on the fib And 2 lower lows to show that it is currently downtrending
you can make a few targets on this pair as my target is just over 600 pips away.
i do think we can see 1.47000s on this pair
First confluence.
ABCD Fibbonacci being played out currently just below point C
Second is i have ascending trend line stemming back from the lows off 2009 and we have just came back up and touched it
we also have a descending trendline from point A on the fib possibly a third bounce and a drop to the downside
Third Moving averages are to the downside on the monthly and weekly time frame.
Fourth this is that we have now made 3 Lowers highs from point A on the fib And 2 lower lows to show that it is currently downtrending
you can make a few targets on this pair as my target is just over 600 pips away.
i do think we can see 1.47000s on this pair
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