GBPUSD Analysis based on my proprietary indicators

FX:GBPUSD   British Pound / U.S. Dollar
Indicators look bearish: the purple line reached it's "baseline" and is likely to fall again this week.

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  • The analysis is base don some proprietary indicators I wrote.
  • The analysis is based on Heikin Ashi bar charts (which show the price a little different than standard candles but works better with my indicators).

DISCLAIMER: Security trading involves substantial risk of loss. My analysis is not trading advice. Do your own research first and/or consult a financial advisor. I'm not responsible for any losses you may incur following my analysis.

Comment: The blue line on top indicator (which shows trend) is above 0 and trending up. I should have not made the decision on purple line alone but only when they are in sync (trend with expected next bar movement based on purple line). Right now (30 min before end of week) it's 1.2354, so a loss.
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