GBP/USD Daily forcast using Andrews principals
Part 2
Continuing with the downward bias we can see an Expanding Pivot ( Or Wedge ) forming around a probable P5 area. This gives us a good clue that we are changing trend to the downside. We have also broken an Up Trend Line and a proven horizontal support & resistance line.
I have set some early downward targets & a time pressure vertical line on a shorter term view, however I feel the market should make a push to the Major ML (Yellow area) over the next few weeks.
Lets see what happens
Continuing with the downward bias we can see an Expanding Pivot ( Or Wedge ) forming around a probable P5 area. This gives us a good clue that we are changing trend to the downside. We have also broken an Up Trend Line and a proven horizontal support & resistance line.
I have set some early downward targets & a time pressure vertical line on a shorter term view, however I feel the market should make a push to the Major ML (Yellow area) over the next few weeks.
Lets see what happens