GBPUSD Trade the Range

1 сент. 2016 г.

GBPUSD is approuching the upper range area which I believe has plenty of sellers waiting. I'll be entering at 1.3340 where I expect the largest orders to be parked at 1.33720.

There is a ending diagonal pattern that has taken shape. Formation that can happen in a wave C for you Elliott fans. Pattern or no pattern, I expect the upper boundary to be an area worthy or a sell limit order.

2 сент. 2016 г.

Заметка

As stated before, the pattern may hold or there maybe no pattern. However the level was expected to create some form of reaction.

The upper swing level is currently holding. If price happens to reach the 1.3372 level id expect allot more sellers in that area to cause a larger reaction. Lower box is still my target.