Gbp/Usd Market Outlook
Context:
the current downmove still should be judged as of corrective nature within an uptrend , even thou we have
an increased momentum to the downside, we respected the 50% retrace level of the current rallie
aswell as the demandline from the overall uptrend , a break of the 50% level willl mostlikely cause a further down
side target to the 50% mark of the current uptrend, wich is a bigger indicator if the current down move is
a reversal or a correction,
signs of strenght:
uptrend
rejection of 50% level
signs of weakness:
broken demandline
increased momentum to the downside
the current downmove still should be judged as of corrective nature within an uptrend , even thou we have
an increased momentum to the downside, we respected the 50% retrace level of the current rallie
aswell as the demandline from the overall uptrend , a break of the 50% level willl mostlikely cause a further down
side target to the 50% mark of the current uptrend, wich is a bigger indicator if the current down move is
a reversal or a correction,
signs of strenght:
uptrend
rejection of 50% level
signs of weakness:
broken demandline
increased momentum to the downside
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