Hi guys, here is a look at the GBP on the 4 hour (macro) view. The GBP pushed through support and still has a lot of room to run (if it wants to). We have a consolidation pattern for the GBP on the normal (15 min) market barometer, but we could see a deeper consolidation before the next push down. If the 50 level fails on the 15 min, then we know that we are in for a larger consolidation, but the long term tells us that this currency is short after the break below support.
After the consolidation period is complete, I would expect the GBP to continue lower for 2 to 3 trading sessions, then consolidate longer term.
This is not investment advice, just my opinion(s). Please trade accordingly.
Trade safe and keep an eye on news.
After the consolidation period is complete, I would expect the GBP to continue lower for 2 to 3 trading sessions, then consolidate longer term.
This is not investment advice, just my opinion(s). Please trade accordingly.
Trade safe and keep an eye on news.
