Couple of weeks back I published an idea on here 'bout GU, it's time for an update. After plummeting over 350 pips(as analysed), the pair has ticked higher over the past 2 weeks to revisit a daily resistance zone. In confluence with the downtrend line and the 61.8 taking of the fibonacci retracement on the impulse leg, this level could be a good sell zone. However traders are cautioned not to think in absolutes, thus there's a possibility of the market attacking 1.4 to complete the large quarter from 1.3750
The NFP report tomorrow will be a fundamental piece for this puzzle.
The NFP report tomorrow will be a fundamental piece for this puzzle.
