Good morning guys,
Hope you are all doing well.
I have attached two files here. The first is my update from 20th and the second is todays results based on those predictions.
Ok.
From there we can see that we predicted a fall to 50 EMA which happened, in fact it broke through 50 EMA and found support around 38.2% of .9433 to .9747 at .9627-ish
Although it found solid support, my bias is sort of bearish at the moment.
H1:
- Stochastics on H1 Look Very Bearish with a visible crossover
- RSI is under 50
- The EMAs are in a BUNCH, but we can see a clearly emerging bearish EMA SPREAD, we are just waiting for the 5/10 Crossover.
- MACD Is also looking rather bearish trying to head below 0
H4:
- Stochastics on H4 are bearish
- MACD is far under 0
- RSI bounced of 50 (38.2%), tried to pick up some momemntum, but now attempts to retest 50, perhaps for a break below (very bearish)
Either way i see two scenarios.
1: We break above 9671/77 and run for 9727 and continue with our previous bullish outlook with next target being .9846
- We break below 9618 and weeeee down to 9578 with our eyes back on 9433. In other words a intentfull break of 9618 would put thing back in a trading range of HIGH (9727) / LOW (9433) which are the consolidative bounds established so far from the rally that began at .1833 (LOW) .9846 (HIGH)
That is pretty much it for GBP today guys.
Right now we just lay low in the tall grasslands like lion and wait for a juicy Long or Short to emerge so we can pounce and bit it in the rear for breakfast
Regards and MERRY CHRISTMAS,
E. Lang