Top of a down channel (bullish flag), CMI is showing overbought conditions.
Staunch resistance above the 1.3962 zone. Weak uptrend with low volume on Friday afternoon and in the 2 days prior.
New Moon begins on the 17th, GBPUSD has bene in an uptrend and should experience some hard down pressure during the week cycle. We are also within the 42-49 day Gann cycle indicating a probability of down pressure. Daily failed to make higher high. This indicates that pivot in time on the 14th is valid and would add support to the down move.
Gartley finishes in target zone.
1st target area is 1.375.
Staunch resistance above the 1.3962 zone. Weak uptrend with low volume on Friday afternoon and in the 2 days prior.
New Moon begins on the 17th, GBPUSD has bene in an uptrend and should experience some hard down pressure during the week cycle. We are also within the 42-49 day Gann cycle indicating a probability of down pressure. Daily failed to make higher high. This indicates that pivot in time on the 14th is valid and would add support to the down move.
Gartley finishes in target zone.
1st target area is 1.375.
Note
Also, there was a perfect square of time and price on March 14th, price failed to rally to that zone. A violent move should be expected.Note
Shorts added to positions with the failed rise and hold.Note
2 lots short @ 1.4137Note
2 lots added to short @ 1.4181Note
4 lots added short @ 1.4221Note
Gann Sq of 9 90-degree price level of 1.426 was again rejected.Trade active
Added 3 lots short @ 1.4143 @ 0800 this morning.Trade active
short 5 lots @ 1.4195 @ 525 CSTNote
10 lot short @ 1.4295 @ 0521 CSTDisclaimer
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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.