GBPUSD ready for a Dead Cat bounce? GU at 'a' bottom maybe

22 במאי 2019

As we all know, GBP has been super weak thanks to the Brexit situation.
To be honest I am NOT in tune with the developments or Pound sentiment.
But I have been watching this fib series and we are at an important zone.

Pound traders know that after an extended drop it can rocket back for a retrace.
I have no idea if that will happen now, but sure looks like a good place to bounce.
Early targets will be the purple fib lines above, and I will update as price moves.

Long entry would be conditional on a Bounce first (duh).
Timing might be good as UK markets are about to open.
I cant imagine London selling it down much further now.

Note:
I have not been paying attention to FX new lately, only the charts.
I have not been trading the Pound much recently, mostly observing.
I am not a Pound bull or bear, but bulls should be salivating about now.

22 במאי 2019

הערה

We lost that support, but Pinged exactly on the next fib down there is Brexit news in the air, so anything is possible, but even with craziness, the fib lines are like tears in the Space-Time continuum, all matter/energy must stop, interact, and retract on first contact.

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