Forex GBP/USD 11th Dec part 2
Tuesday I was looking for a rotation back down to re-test the breakout zone.
Price rotated down from Daily channel highs, and now price is being supported.
How valid this change of 3-day cycle will be determined by Wednesday, because a new UP trend should move higher on Wednesday back towards the highs....
Otherwise it will move back down towards the 3-day lows 2.0222 (2nd day rotaton), and continue down as it remains below all higher timeframe 50% levels, following the monthly timeframe trend.
Posted by
Frank Dilernia