GBPUSD DOUBLE TOP 12647/12642 CONSOLIDATION OR LOWER!!!
Double top at 12647/12642, there are 5 waves from 12247-12642. the upside from 12247 has been complex and it warrants for caution why?
From 12165, 12165-12647 has been implusive,12647-12247 has been a simple correction, 12247-12642 has been a complex correction that has subdivided therefore a retest of 12165-12247 quite probable, however
there is support S=12465-12445 prices are nearly there 12482 fridays low this is a 62% decline of 12390-12642 prices could consolidate to R= 12560-12580, IF PRICE breach S=12465-12445 then expect S=12400-12345.
BREAK below 12445 will activate lower S=12400-12345, S=12300-12240 & S=12200-12165, Failure below 12200-12165 then T1= 12075-11940, T2=11880-11760,T3=11630-11580.
From 12165, 12165-12647 has been implusive,12647-12247 has been a simple correction, 12247-12642 has been a complex correction that has subdivided therefore a retest of 12165-12247 quite probable, however
there is support S=12465-12445 prices are nearly there 12482 fridays low this is a 62% decline of 12390-12642 prices could consolidate to R= 12560-12580, IF PRICE breach S=12465-12445 then expect S=12400-12345.
BREAK below 12445 will activate lower S=12400-12345, S=12300-12240 & S=12200-12165, Failure below 12200-12165 then T1= 12075-11940, T2=11880-11760,T3=11630-11580.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.