The only short-term UP move that would interest me would be a test of the November 50% levels and then trade the break of the trailing resistance line, otherwise stay out and respect the trend….Yesterday's Report
Following my report price moved up into the Trailing resistance line and sold off down into the November 50% levels.
These levels are major support zones, so any trader looking for a swing back up would ideally confirm the break of the Trailing resistance line, looking for a minimum 3-day UP move
Most derivatives are non-linear, so traders can expect some form of rotation upwards in the opposite direction of the previous day's close
Personally, I prefer to trade any swings upwards from the following trading week starting from Monday, because a Weekly close above this level verifies major support.
A break below this level on Friday and GBP is heading down much further..
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