Sterling Wedge
GBPCHF has entered a significant wedge pattern.
Twice off the top and twice off the bottom.
Price is hovering around the 50MAV after breaking a minor 4 day consolidation.
The last swing to the downside was 16 candles. The current is 7 candles.
Net equation would say in the next 7-9 daily candles, the pair may again test the
supporting trendline.
Momentum is waning on the pair and sits below 50.
Below 1.1460 the next targets are
1. Prior swing point and now support at 1.1350
2. 200 MAV - 1.1305
3. Trendline - 1.1275
It should be in 5 waves, and mirror image the preceding run to the upside.
Twice off the top and twice off the bottom.
Price is hovering around the 50MAV after breaking a minor 4 day consolidation.
The last swing to the downside was 16 candles. The current is 7 candles.
Net equation would say in the next 7-9 daily candles, the pair may again test the
supporting trendline.
Momentum is waning on the pair and sits below 50.
Below 1.1460 the next targets are
1. Prior swing point and now support at 1.1350
2. 200 MAV - 1.1305
3. Trendline - 1.1275
It should be in 5 waves, and mirror image the preceding run to the upside.
註釋
Pattern completed, target reached
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