After days and days of going sideways GbpAud finally did something interesting and went abruptly bullish this morning, I have placed some sells in the belief that after an abrupt ascent comes a descent.
Let me know what you think.
Kommentera
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It already went down more than 100 pips, now, if only it did something else than being struggling between that 50 +/- area!!!!!
@aryahi29, Well now I feel more confident about it, thank you pal
Generalmonkus
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I disagree. Everything is pointing to more upside. Look at monthly chart, elliott wave, price action, volume, indicators… this is most likely just a shallow correction before going higher. That is what the odds favour in my opinion.
patogarcia912
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@monk, I see there is a bounce developing in the monthly chart, now, I didn't mean it had to go abruptly bearish but it already went down about 150 pips since I published this, now it is kind of consolidating, maybe as you say it is time for it to resume its uptrend. We'll see....