DislikedHello guys, do note that GBPUSD has equated the range of February being 485 pips... January range was 600+ pips... Last 5 fomc days have seen bullish GBPUSD... Below 1.2320 means 1.2050 is still possible, break and close above 1.2320, means 1.2650 in days ahead. This week expected range is between 250 - 350 pips... So far price has only done 120 pips range with at least 130 more pips to break either 1.2285 or 1.2166.. Trade with caution.Ignored
From weekly range, already 166 pips of expected 250 to 350 pips, which means either high of 1.2335 or low of 1.2166 is still expected to break by at least 70 pips...
Simulations below
1.2166 + 250 pips = 1.2416
1.2335 - 250 pips = 1.2085
I will go for 1.2085 as far as price keeps trading below 1.2320, only a close above 1.2320 will change my plan.
As usual, I may be brutally wrong with no obligation to follow.
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