GBP, Go on Son!!!

Morning Dynamic Traders.

What a day the pound had yesterday!! Just when it looked like it was on the down, it brings out one last fight for the end of the week.
As always, let’s have a look at what happened.

From the hour chart below you can see that price came down to a previous support, which just so happens to be the same support that ended our huge fall on Monday. Price then had a little breather and climbed to a previous resistance line and hit a Fib breather level at the same time. This helps to explain the big drop over the hour. This drop finds help at a RN which is also at a support and a Fib reversal area, price rockets up and tags the Value Index. At this point price needed some more time to chill-axe, until she hit a Fib breather level and wanted some more action and climbed further acting like it didn’t even see the Value Index.














Those of you with a keen eye would also see that price is currently hovering at a strong resistance line that helped to make our head n shoulder pattern, near a RN. What do you think price will do? I look forward to find out and reporting back to you all on Monday.

Hope you all have a good weekend.
Happy Trading

Richard