The GBP has been dragged through the dirt for the past month, mostly due to Brexit talks and other uncertainties
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Currently we have witnessed a falling wedge, ABCDE Structure, H&S pattern and a Flag Pattern all forming the previous week
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This can be seen as move as an aggressive correction to the macro downtrend, more than a reversal
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The bull bias will be confirmed on the break and close over the flag break and close
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Price is projected to reach the (D) leg at 1.92800, while anything over the 1.86247 is considered invalid
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Currently we have witnessed a falling wedge, ABCDE Structure, H&S pattern and a Flag Pattern all forming the previous week
-
This can be seen as move as an aggressive correction to the macro downtrend, more than a reversal
-
The bull bias will be confirmed on the break and close over the flag break and close
-
Price is projected to reach the (D) leg at 1.92800, while anything over the 1.86247 is considered invalid
Komentar:
Price closed over our flag before pushing back through, this would be due to the new week open volatility. Price is still expected to push higher.
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The NZDUSD shows great strength currently, while the GBP is still quite beaten.
Analysis closed
Analysis closed