GBPUSD DOUBLE TOP 12647/12642 CONSOLIDATION OR LOWER!!!
Double top at 12647/12642, there are 5 waves from 12247-12642. the upside from 12247 has been complex and it warrants for caution why?
From 12165, 12165-12647 has been implusive,12647-12247 has been a simple correction, 12247-12642 has been a complex correction that has subdivided therefore a retest of 12165-12247 quite probable, however
there is support S=12465-12445 prices are nearly there 12482 fridays low this is a 62% decline of 12390-12642 prices could consolidate to R= 12560-12580, IF PRICE breach S=12465-12445 then expect S=12400-12345.
BREAK below 12445 will activate lower S=12400-12345, S=12300-12240 & S=12200-12165, Failure below 12200-12165 then T1= 12075-11940, T2=11880-11760,T3=11630-11580.
From 12165, 12165-12647 has been implusive,12647-12247 has been a simple correction, 12247-12642 has been a complex correction that has subdivided therefore a retest of 12165-12247 quite probable, however
there is support S=12465-12445 prices are nearly there 12482 fridays low this is a 62% decline of 12390-12642 prices could consolidate to R= 12560-12580, IF PRICE breach S=12465-12445 then expect S=12400-12345.
BREAK below 12445 will activate lower S=12400-12345, S=12300-12240 & S=12200-12165, Failure below 12200-12165 then T1= 12075-11940, T2=11880-11760,T3=11630-11580.
