 In last Friday’s Weekly Technical Update, it was noted that the GBP/USD developed a positive reversal (when the RSI low is lower or equal, but the price low is higher). The swing projection to… |
 The GBP/USD pair has been declining since Friday after nearing the 1.55 level. This was an anticipated area of resistance, having a confluence of 200SMA in the daily, as well as 50% retracement and a… |
 The EUR/USD is surging towards 1.30/1.31 area as noted in yesterday’s post. The European session saw the EUR/USD surge more than 100 pips. This came after some consolidation in the Asian session. In the daily chart we see today’s price action break above a declining trendline suggesting a move towards… |
 The daily chart shows a continuation pattern right at the channel resistance. This type of market action means that the market actually is NOT respecting the channel. Fibonacci expansion levels and retracement levels have.. |
 The GBP/USD pair was testing the 1.52 resistance, and after 3 tries came down to complete a very clear triple top. Since last week, I noted that the 1.52 level was heavy resistance and topping action should mean the market is respecting it, probably returning to… |
 The GBP/USD pair is at a resistance area of 1.52, and has so far paused the current rally that started in mid-May. The latest video update noted a 1H chart head and shoulder pattern…. |
 4H: A quick 4H look at the GBP/USD. It is still bullish. since beginning of June, rising in an upward channel. The RSI may be dipping, but price hasn’t yet, so in the short intermediate term this pair is still bullish.The previous post noted to look for topping action near 1.52, so at 1.5140, we may be a tad early. We have some temporary topping that may bring some retracement, but… |
 The GBP/USD pair has been strong in June. In fact it has been rallying since the middle of May, for a month now. This week, the pair showed some signs of finally topping. The 4H chart shows the rally stopped at 1.50. The daily chart below shows that |
 …Since I am stalking wave C OR (3), I will take a look at the internals. I appears we may be close to completing wave 1′ of C or (3). Which means we should be looking for wave 2′, then wave 3′ of C or (3), the most dynamic wave in this time-frame. |
 …If the market fails to continue higher than 1.4633, it creates a negative reveral. If the market tops off at the 1.45 it would be tested a resistance. This pullback would confirm the break and a target of 1.38. Refer to “Retesting 1.45″. However in the shorter term, a swing is projected to 1.41 first… |