Look at GBP/USD chart again , GBP/USD is under pressure by some bearish daily trend line and push up by a good 61.8-76.8 fibo level and daily support zone , ( I have shown on the daily TF chart) .macd & rsi wrote: Mon Nov 19, 2018 7:42 pm GBPUSD :
At H1 tf ,, price shows an upward movement , , blue movings and bbsqueeze , RSI above 50CL ,,
at H4 tf ,, it seems a retrace , goes to 1.2960-1.30 which is resistence area ( two fibo and daily trend line , daily and weekly bearish 21 EMA ) , a clear divergence ,,
at daily tf ,, daily important trend lines , which shows a bearish wave , but a good support area , I have showed it with a blue rectangle ,,
at weekly tf ,, weekly long term trend line , and a retrace and a good support area between 78.6 and 61.8 fibo level ,,
I think , price don't know the correct movement , up or down . breaks the daily bearish trend lines then flies to 1.4 ,, or ,, break the weekly support area and goes to 1.19 .
For a some times , I do not trade on GBP/USD , until market find the proper movement .
====================
gold ,, step by step goes to a proper shape for having a buy with a big profit .
As I wrote at previous post , GBP does not have a clearly movement and it is now like a spring and jump or fall suddenly .
As you can see on the daily and H4 chart , daily 21EMA is very important( the pink one ) , and if price can go above it and close , we can hope the price can reach the 21EMA weekly ( the brown one ) , then goes to brown daily trend line , which shows on chart .
In spite of these words and analyses , we have 6 major cross and gold and silver and ..... ,,, why we should trade on the pair which does not have a clear movement ?????Let it set aside and trade the other ones .
