GBPUSD ..........A complete analysis of GBPUSD
After the breakout of the triangular pattern about 6 days ago. The breakout started from 1.2400 and stopped at 1.22696 but moved into 1.23000 at the closing hour of trade. From 1.22696 ABCD PATTERN was formed A@1.22696 B@1.23520 C@1.23040 D@1.24147.
From the D=resistance@1.24147 proc fell to C@1.23040 and created a support at 1.23000. Also note during the last 6 days movement from 1.23000-1.24000 a failed head and shuolder was formed. With the six days movement consolidating at 1.23000-1.24000 a break below 1.23000 signals sell and a break above 1.24000 signals a buy.
From the D=resistance@1.24147 proc fell to C@1.23040 and created a support at 1.23000. Also note during the last 6 days movement from 1.23000-1.24000 a failed head and shuolder was formed. With the six days movement consolidating at 1.23000-1.24000 a break below 1.23000 signals sell and a break above 1.24000 signals a buy.