Monday, May 2, 2016

Gbpusd: The Imminent Return Of The Bears?

In an analysis posted on 5th April where we expected the cable to rally to 1.4669 after a triangle pattern.
Read the analysis here 

We used the chart below in the analysis.

The analysis was perfect as price moved exactly as expected after completing the triangle, then embarked on an impulsive rally which started at 1.40 price level.

Price is presently in the region o a 100% price projection of wave (a) (1.3832-1.4445) from the base o the triangle, wave (b).

A 5-wave impulse rally is at the brink of completion and price could rally further to 1.4768 before the bearish trend resumes.

We expect price to be contained below 1.4768 and the bearish trend to resume


  1. Spot On! The moment I saw the analysis I knew it would work, but more than work, it was spot on. Barely a pip after the Long TP the Bears hopped in and it was the bomb!

    Ñow, I'm expecting support at the broken Trendline R at 1.4280, 240 pips away.

    Keep up the work man.

  2. Thank you so much much Geniusbami. 1.4280 is highly probably, a good suppport. I will post an update after the reaction of the market to the NFP....


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