Khan_Tech_Trading

Khan_Tech_Trading Updated  Apr 22, 2020

The monthly chart is still in a down Fibonacci ABCD swing with the D extension at 0.9238 suggesting that POUND will weaken substanstially to the Greenback over time. The Weekly Fibs are also in a Down ABCD swing. The Daily counter trend line has been broken to the downside and confirmed. I am turning to the lower time frames and looking for selling opportunities.

Khan_Tech_Trading Apr 22, 2020

The monthly chart is in a large Bearish channel. There is also a down Fibonacci ABCD swing with the D extension at the parity level. The Weekly chart is in a Bearish ABCD swing. The Daily Daily chart is also in a down ABCD swing as the counter trend line has been broken. I expect price to continue falling to 1.0136 which is the Daily Fibonacci D extension.

Khan_Tech_Trading Apr 22, 2020

The Monthly Probability is Bearish as price is retracing inside the Up AB Boundary. The Weekly Probability is Bearish as price is moving from the C to the D about +780 pips away. There is a down ABCD swing on the Daily chart and since the counter trend line has been broken price is heading to the D extension at 0.9255 about +470 pips away.