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GBPUSD to start a down move
Despite disappointing US data on Friday, GBPUSD might be ready to start a down impulse. This might become possible if price behaves a certain way.
Firstly you should wait for a pattern breakout. Currently, if price violates the borders of a small flag, it is better to wait for a small correction and take short positions.
Secondly, the price might move higher beyond the pattern lines. In such a case it is better not to go long and let the price finish a zigzag move up before plunging down.
This week Fractology recommends looking for the price to go down.
Firstly you should wait for a pattern breakout. Currently, if price violates the borders of a small flag, it is better to wait for a small correction and take short positions.
Secondly, the price might move higher beyond the pattern lines. In such a case it is better not to go long and let the price finish a zigzag move up before plunging down.
This week Fractology recommends looking for the price to go down.
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