GBP:-
The November 50% level is supporting the market, and this week there is an expectation that price is rotating back towards the 3-day highs and Weekly 50% level.
These upper levels will confirm the strength of the reversal and break back above with a Daily close above it on Monday/Tuesday. Or it will deny any up move this week, and actually send the market down as it follows the trend defined by the Weekly 50% level.
These are the same patterns that have been occurring in US and Australian Markets:- Weekly lower open swings back into the Weekly 50% level before the trend continues down..
At this stage it’s too early to tell which direction it’s going to follow but the trailing support intra-day to help clarify any trades this week and help minimise Risk.
The November 50% level is supporting the market, and this week there is an expectation that price is rotating back towards the 3-day highs and Weekly 50% level.
These upper levels will confirm the strength of the reversal and break back above with a Daily close above it on Monday/Tuesday. Or it will deny any up move this week, and actually send the market down as it follows the trend defined by the Weekly 50% level.
These are the same patterns that have been occurring in US and Australian Markets:- Weekly lower open swings back into the Weekly 50% level before the trend continues down..
At this stage it’s too early to tell which direction it’s going to follow but the trailing support intra-day to help clarify any trades this week and help minimise Risk.
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