Disliked{quote} Could it be the low for now for GBP.???? GBP has retraced 61.8% fib from the last leg up from 1.2774 to 1.3660 and took a bounce from 61.8 fib. will it open a door to 1.3800 for GBP????Ignored
It tagged the top of the triple GB gap, so it filled it. At the same time B period re tagged it, transforming it in a poor high. Then it attempted a break below inside period B and for now it looks like it failed. When a price attempted break failed in one direction the next natural direction is the opposite side of the balance. That, in our case is also poor. If instead the attempted break will succed we could continue lower where we saw a weak low atr Sydney low. See previous post. In this case we will leave upside a GB poor high: and so in this case you have to carry forward this info.
Ubi maior minor cessat