Well, Paris...what can I say? Lovely Country, shame about the people.
Right, here's what I see.
I've had to look at GBP/USD to try and get an idea with what is happening with Sterling.
This whole rise is a bear flag, not a rally. The green shoots of recovery are in fact weeds.
I think the Uptrend has finished. We are in actual fact already in a downtrend, it's just not that obvious to everyone yet. Distribution has been occurring along the 4 x warnings marked on the chart, this move in the last few days is in a small upchannel within the "New" downtrend.
The reversal pattern shown over the last fews days the last warning to be ready for a fall, a spectacular fall I might add. I think that the fall will be rapid through 160, 155, and below 150.
Have a good weekend bro's.
PS Good to see ya Quecee and Piters
Right, here's what I see.
I've had to look at GBP/USD to try and get an idea with what is happening with Sterling.
This whole rise is a bear flag, not a rally. The green shoots of recovery are in fact weeds.
I think the Uptrend has finished. We are in actual fact already in a downtrend, it's just not that obvious to everyone yet. Distribution has been occurring along the 4 x warnings marked on the chart, this move in the last few days is in a small upchannel within the "New" downtrend.
The reversal pattern shown over the last fews days the last warning to be ready for a fall, a spectacular fall I might add. I think that the fall will be rapid through 160, 155, and below 150.
Have a good weekend bro's.
PS Good to see ya Quecee and Piters