GBPUSD looking positive.
1. Breakout of Regression Channel
2. 60 min and 4hr 10/20 EMA positive with both bands now green replicated in MACDs.
3. Price extended to BULL B4 which is 125% normal daily range and 50% weekly range.
3. Price above 50, 100, 200 Daily EMAs G, O, R.
a. Limited extension now for rest of day although still marginally possible.
b. Pullback required to between 25% and 50% (yellow circle) of up move to gain good RR to go long.
c. Be patient !!
NB. Graphics are only explanatory and not exacting on any time scale.
1. Breakout of Regression Channel
2. 60 min and 4hr 10/20 EMA positive with both bands now green replicated in MACDs.
3. Price extended to BULL B4 which is 125% normal daily range and 50% weekly range.
3. Price above 50, 100, 200 Daily EMAs G, O, R.
a. Limited extension now for rest of day although still marginally possible.
b. Pullback required to between 25% and 50% (yellow circle) of up move to gain good RR to go long.
c. Be patient !!
NB. Graphics are only explanatory and not exacting on any time scale.