GBP moving into a sideways pattern:- trading below the Monthly 50% level of March, and above the support of the 3-day lows and Weekly 50% level.
In the chart on the right we can see the coming together of the 3-day channels, and it's going to 'pop' out either side soon.
Yesterday I was looking for an R110 low and then a break above the intra-day support line for a move towards the monthly 50% level, and or breakout.This has completed and now moving upwards and above support....
Note:- Whilst price is above support it's heading towards the 3-day highs (breakout)
Below support and it's moving down into the 3-day lows.
traders can also wait for a breakout with the expectation that there will be a follow through the next day towards the 'new' 3-day range.
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