GBPUSD Bottom potential
3 pumps high marked the top, the marketmaker clearly wanted to make sure everyone is bullish and believes in bullish trend when they sell high - as you can see the 3 moves up took a long time. Then Dollar hit bottom bands at 2008 and started bull run that I believe finishes with the end of this year.
3 dumps at the lows here mark the marketmaker attempting to make everyone well bearish when they buy, same trick as at the top, but in reverse. Make it look like trend is bearish.
Well, I cant say its an easy trade by any means, but currently price is near fibonacci level and broken out of the downward trending resistance and currently doing the re-test of it.
I'm a buyer here for the long term. We should know soon. Bounce here would be incredibly bullish, and it might get steep for the bears, because it's been 16 years of long term bear for GBPUSD and people have forgotten.
3 dumps at the lows here mark the marketmaker attempting to make everyone well bearish when they buy, same trick as at the top, but in reverse. Make it look like trend is bearish.
Well, I cant say its an easy trade by any means, but currently price is near fibonacci level and broken out of the downward trending resistance and currently doing the re-test of it.
I'm a buyer here for the long term. We should know soon. Bounce here would be incredibly bullish, and it might get steep for the bears, because it's been 16 years of long term bear for GBPUSD and people have forgotten.
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