GBP/USD
formed a doji candlestick in the daily filter chart right above the support at
1.5000 and began climbing. I think this is the beginning of a more long-term
correction, because 1.5000 is a very serious support level, visible in the
monthly filter chart as well. Not to mention that the pair has been in a
consolidation for the past six years and that 1.5000 is the lower limit of the
aforementioned consolidation. The question is whether the pair will be able to
break below that level eventually or will the trend become bullish instead.
Very good analysis, i´ll follow the price
ReplyDeleteThanks for the analysis, let's see.
ReplyDeleteGreat assessment. I'll keep a close eye on cable.
ReplyDeleteSo far, 1.500 level still holds.
ReplyDeletenice charts
ReplyDeleteexcellent analysis
ReplyDelete