GBP/USD BEARISH A,B,C,D pattern in play. P.A
Again been monitoring GBPUSD since i called the reversal at 1.7000 (on my Youtube channel)
Broken Daily ascending Trendline and fulfilled both targets (point 1+ point 2 of trend line)
attached FIB from the significant high to the morning star formation around 1.6100 to form FIB B..
Seen a slight retracement due to the scotland vote back in september which was a volatile manipulative move before crushing buyers and simply fulfilling a technical FIB retracement level (38.2%)
was easy to zoom into lower timeframes to get a refined viewpoint of P.A and multiple Counter Trendlines could have been attached in order to give great entry confluences to the downside with targets being located around -27% D FIB extension (first of all)
We broke that D FIB alone with a false bull break and whipsaw of the daily Descending T.L around 1.5734...
Now expecting this pair to crash down to 1.5300-1.5350... a break here will most deffo lead to 1.5000 + 1.4900 (2013 weekly double bottom lows)
Broken Daily ascending Trendline and fulfilled both targets (point 1+ point 2 of trend line)
attached FIB from the significant high to the morning star formation around 1.6100 to form FIB B..
Seen a slight retracement due to the scotland vote back in september which was a volatile manipulative move before crushing buyers and simply fulfilling a technical FIB retracement level (38.2%)
was easy to zoom into lower timeframes to get a refined viewpoint of P.A and multiple Counter Trendlines could have been attached in order to give great entry confluences to the downside with targets being located around -27% D FIB extension (first of all)
We broke that D FIB alone with a false bull break and whipsaw of the daily Descending T.L around 1.5734...
Now expecting this pair to crash down to 1.5300-1.5350... a break here will most deffo lead to 1.5000 + 1.4900 (2013 weekly double bottom lows)
