Gbp/Usd Market Outlook
Context:
the current reaction @54500 initiated an upgrind thru a supplyline with a series of higher lows and highs , however
its not a strong upmove per se , any rejection of @56300 followed by a break of demandline should be considered
weak, OTOH such tight grinds especially after a selloff are filled with price and any breakout to the upside will be accompanied on high momentum ,
signs of strenght:
uptrend
rejection of 50% retracement
broken supplyline
signs of weakness:
broken demadnline
increased momentum to the downside
the current reaction @54500 initiated an upgrind thru a supplyline with a series of higher lows and highs , however
its not a strong upmove per se , any rejection of @56300 followed by a break of demandline should be considered
weak, OTOH such tight grinds especially after a selloff are filled with price and any breakout to the upside will be accompanied on high momentum ,
signs of strenght:
uptrend
rejection of 50% retracement
broken supplyline
signs of weakness:
broken demadnline
increased momentum to the downside
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