Disliked133.20 area is the 50% fib retracement of the move from the lows to the most recent highs (looking on 4 hour or daily here). My bias has also been short this week and I've made some pips, but PA does seem to really be laboring to make new lows each time and they aren't really substantially lower. I'll definitely be exiting at 133.20 and watching closely to see what happens.
Technically, GBP/USD seems ready to drop a bit, but only to retrace its gains a bit today (this could help drag GBP/JPY to 133.20 area). Overall though, I think GBP/USD is...Ignored
I agree mate,, let me POST my View:
we
- broke that Daily trendline
- Broke Neckline with a double top formation
- GBP closed above Gann4 and is testing Daily 5sma
- UY closed just on Daily Gann, but still bullish
- we [GY] drop below 135.00 area, tested 2 times..
- we [GY] are below Daily, 4H, even 1H gann
- We [GY] are below Daily, 4H, even 1H 50 ema... (that is very bearish)
- Yes, no sellers, but no buyers aslo...
- we [GY] tested few times durring London, and NY session, with full power, we couldnt break 135,10
- We [GY] are still in the box, mean in that chanel, and the Upper TL sits on 135.40/50.. area proven as a very tough
What I expect:
- I do realy expect First to test FIBO 382 from the whole move with FIBO 618 from last move up.. currently @ 133.00 area..
- After retest, we may baounce a bit, and then is important to watch PA.. if we turn down, we go for sure to test 130 - 128 area...
- If we bounce.. then we play 142 and higher levels..
- give a litlle patience and watch the game..