GU update...
Today we see a relatively weak bearish of 20pips followed by a 70pips strong bullish to touch the top of falling wedge pattern...
The first 2 cycle of the falling wedge pattern have formed.
With the resistance at 1.30 and 50EMA, chances are it might be too strong to break through.
I will continue to lean on GU going bearish.
However GU might take a leap over towards bullish and break the falling wedge trend. There is however a strong resistance at 1.30.
Brexit negotiation might determine if GU will go bullish towards 1.30
Please trade GU with caution in the month of October
Today we see a relatively weak bearish of 20pips followed by a 70pips strong bullish to touch the top of falling wedge pattern...
The first 2 cycle of the falling wedge pattern have formed.
With the resistance at 1.30 and 50EMA, chances are it might be too strong to break through.
I will continue to lean on GU going bearish.
However GU might take a leap over towards bullish and break the falling wedge trend. There is however a strong resistance at 1.30.
Brexit negotiation might determine if GU will go bullish towards 1.30
Please trade GU with caution in the month of October