joshbayelyy

joshbayelyy Updated 

looking to be a short on gbpusd. looks like the bulls have all been worn out and the bears are about to take over. and we will see the price touch the 764 retracement level.. peace

joshbayelyy Updated 

may see the 618 retracement level used as a support and do a reversal and go up to 236 retracement level. as the 4hr candle has already pierced the 618 level. but b all means it could peierce straight through the 764 level. so i will be keeping an eye on it for a long position. there is also a bearish engulfing just after the bullish candle

joshbayelyy

as you can see from the chart that the pair has been in some sort of channel in between 1.06000 and 1.03800 area since the 14th december so we could see a big break out to the upside or downside depending on what confirmation we have closer to the time of the breakout. so this pair is definitley on my watchlist. also the RSI is pretty neutral at the moment so no...

joshbayelyy

from my previous post on about the different possibilities depend how the hourly candle turned out, i was never long on this pair because im sure we will see it reach the 618 retracement level, but as everyone knows the market doesnt always go the way that you planned

joshbayelyy

if we see the price close above the resistance line then we could be in a position for a long, but if it bounces of resistance there could be a chance for a short.. patience is key!

joshbayelyy

whats everyones thoughts on GBPUSD after this weeks highs and lows