This Week GBP has had an UP bias with a lot of rotation going on....Each day has been supported around the 5-day 50% levels and rising upwards into the daily highs, and then reversing back down
Also GBP has been moving in 120 pip ranges, and each swing low has provided a minimum 120 pip move from the spiral points....
This 120 spiral point low is matching the 5-day 50% level so the bias is to rise higher, and we know below the spiral low risk increases.
Since the last post price moved up 33 pip reversed back down into the 5-day 50% level and hopefully it will continue higher....
Don't trade longs below the recent low....
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