GBP:- Expectation that price is swinging from the January lows towards February 50% level
First confirmation was yesterday's trading Set-up (5-day 50% level and breakout of 3-day high)
Expectation of Thursday breakout would move towards Friday's highs.
However, when I look at the forward Weekly timeframe there are 'DROPS', this often suggusts that the Friday can close down...
If that is the case then resistance on Friday is 1.97920 - (Friday's highs @ 1.8540)
And push lower on Friday would be back towards the Thursday breakout....
A DOWN day on a 'DROP' has a random length:-
It can move back into the Thursday breakout and stall before heading higher next Week
It can move down From Fridays highs back towards the 5-day 50% level or more (expected lower close), before heading higher next week...
Don't short trade above Friday's Resistance..
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