Short

GBPUSD - Extended into the 61.8% area.

Updated

Has extended higher into the 61.8% level @ 1.2720. Now with other USD pairs we look at the DXY to see if its going to hold these levels or break in which case we will see higher Indices, Gold & USD Pairs.
Big couple of days ahead. If it breaks these levels then the 78% & 1.2900 would be the next target..
With other straight line moves its best to wait for a top to come in and break then Sell the first 382 PB.

Will be keeping an eye on this one.

Note

GBPUSD is similar to the AUD with an expected rally on the short term. This will likely set up the next major move. Watching the Ext levels for a reversal. Alarms set and ready to go.

Note

GBPUSD is working lower but is now getting close to some strong levels of support where we should see a bounce. This bounce will hold the keys to where we go next. An Abcd move back into the 382 will be a sign of weakness.
A straight line move will be one to watch.
I will Update once we get to these levels and see the reaction.
Enjoy the Day.

Note

After completing the 382 PB and then spiking lower on the NFP numbers, Im now looking for a rally into the 382-50% area again were we could see some weakness come in or the other option is that the correction is finished and we are headed above 1.2700 again. Def one to watch early in the week.

Note

After getting up to the 382 ABCD area @ 1.2587 the GBP fell away a little and is now in a Key Area where if it breaks above yesterday's high then its likely to go to the 1.2630 area ABCD.
Otherwise if it stops here then we could see a deeper correction towards 1.2830 before a move higher or more selling taking it down towards the mid 1.2400s.
So nothing real clear as we go through this correction so see what today brings.
There is also the CPI Inflation data coming out before the US Open this evening so that will throw it around.
Enjoy the day.

Note

Updates tomorrow on FX Markets as we have Inflation data and the US Interest rate decision later. A major Change in Trend Window today as well.

Enjoy the day.

L_F

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