GBPUSD MID-LONG TERM PRICE ACTION PROJECTION
Lets recap the last two/ three weeks price action.
Wk starting Mon 24th Feb £$ was moving down within a downward wedge, It hit a low in the 12760 area, Bottom line of wedge was broken but turned out to be a false break. Created a yearly low btw 12760 area.
Wk starting Mon 02nd March £$ bounced entered back into the DWW and broke through the top of the DWW to break the wk mon 24th feb high.
Wk starting mon 9th march £$ gaps up @ open it rallies to 132000 and it hits resistance. £$ retraces wayyyyy more than I expect to 12825 creates a beautiful HAMMER in the 4H timeframe.
Now £$ is heading up it seems, ATM.
SO NOW FOR WHAT I SEE , A upward channel created by the low of FEB & the high of march.
PLAIN AND SIMPLE
WILL WAIT TO SEE
Wk starting Mon 24th Feb £$ was moving down within a downward wedge, It hit a low in the 12760 area, Bottom line of wedge was broken but turned out to be a false break. Created a yearly low btw 12760 area.
Wk starting Mon 02nd March £$ bounced entered back into the DWW and broke through the top of the DWW to break the wk mon 24th feb high.
Wk starting mon 9th march £$ gaps up @ open it rallies to 132000 and it hits resistance. £$ retraces wayyyyy more than I expect to 12825 creates a beautiful HAMMER in the 4H timeframe.
Now £$ is heading up it seems, ATM.
SO NOW FOR WHAT I SEE , A upward channel created by the low of FEB & the high of march.
PLAIN AND SIMPLE
WILL WAIT TO SEE