Simple & Consistent Fibbing Method

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Short @ 1.5288, Next breach level 1.5262

We will short again once we have a close below our breach level 1.5262.

Notice how this converges with our projected bear targets for today.
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First set of targets hit and nice close below breach level, so we need to adjust our low of the day to the new low now.

Good morning darling. Looks like a nice set up today.

Our next bear targets are at 1.5209 to 1.5224. Need to watch this support. However we are currently hitting a swing low at 1.5275.

Good Morning aswilled! Indeed!

We hit the bottom of our 15 range, so lets watch that! chart coming

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Next breach level 1.5244

Price traveled up to the daily 61.8 and fell to 5247. Making an intraday range of 5316 - 5247. Price gave a nice rejection at the intraday pivot and since fell to the intraday low.

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We have a close above breach level 1.5302 giving threat of upward movement.
Long entries are possible here. We will watch the reaction of price to this level before taking anymore positions.

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We went back to the top of our trading range to resume downward movement.
Next breach level, 1.5283. We pay attention to here for continued downward movement or upward bounce.

I am bearish on GBP/USD.
The long term outlook continues to be negative. The British exit of recession is mostly due to a revision of Q3 data, and not real, convincing growth. The UK has yet to show economic strength before the Pound rises.

We are back INSIDE of our H1 channel and bounce of the inside of the TOP OF THE CHANNEL.

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The pound has made three tl breaks (shaded area) and a daily and intraday pivot break to the down side. Though we have yet to hit any of out targets, just following the rules of this method, and the rules of trading, has made this day a profitable even before the US open.

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GBP/USD
Well here goes the shorts of 1.5125 resistance. We should be seeing 1.5130-40 today.