DislikedBased upon the consolidation from 7-17 to present, the price has retraced to the 23.6% fibo line, but has struggled in efforts to go down to the 38.2% fibo at 249.39.
The 4 Hour candle close at 1AM EST at 250.41 and reached a high of 250.46.
The upper line of 250.51 is the key line to breach on the upward move, but maintains a range of 250.51 down to 249.72.
We are now into our 17th 4 hour candles in a range of 250.51 down to 249.58, which is only 93 pips.
The median for the range is 250.04/11.
The 4 hour candle that just closed at 1am EST low was 250.15, just above the median line of 04/11.
News comes out of GB at 4:30 am EST, with no major news following in the US Session, so expect the GU to lead the way here today once the London Opens and the news is released.
Watching key lines on the GU and the UJ also during this session as per post # 8554
Once we close above the 250.51 line, the projected target would be 251.90/95 and possibly 253.91 based upon information from Fixme1too and Fibo extension I have charted. See post # 8548 for projected targes.Ignored
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