GBPUSD CONSOLIDATION ZONE= 12410-12520 THEN BREAK (UP/DOWN)!!
GBP has been consolidating from 12647 and has since met price support between 12265-12200 (12247) this move was a 3 wave 12405-12522-12247(this also subdivided 12437-12548-12405-12522-12247).
price has tested the upper resistance zone of 12410 currently at 12360 upper resistance = 12500-12520 in extension upto 12540-12600 resistance.
12247 = support break below expect retest of 12165 and lower price zones too.
Break out above 12520-12540 expect higher prices upto 12600 caution(no man's zone) required as price break above 12647= T1= 12700-12775, T2= 12835-12940.
Resistance 12520-12540, failure here expect 12165 and lower T1= 12075-11940, T2=11880-11760, S=12025-12000, S=11880-11850.
IF price breaches 11760 then expect= T3= 11630-11560... THIS IS NOT MY EXPECTED OUTLOOK FOR NOW HOWEVER IT IS PROBABLE.
Recap from 13500, X=13500, A=11405,B=12647(62%=13500-11405), IF C =?? therefore = T1=12075-11940, T2=11880-11760, T3=11630-11560, IF a simple correction then T1
otherwise a complex correction then expect T2 TO T3 PRICE ZONES.
price has tested the upper resistance zone of 12410 currently at 12360 upper resistance = 12500-12520 in extension upto 12540-12600 resistance.
12247 = support break below expect retest of 12165 and lower price zones too.
Break out above 12520-12540 expect higher prices upto 12600 caution(no man's zone) required as price break above 12647= T1= 12700-12775, T2= 12835-12940.
Resistance 12520-12540, failure here expect 12165 and lower T1= 12075-11940, T2=11880-11760, S=12025-12000, S=11880-11850.
IF price breaches 11760 then expect= T3= 11630-11560... THIS IS NOT MY EXPECTED OUTLOOK FOR NOW HOWEVER IT IS PROBABLE.
Recap from 13500, X=13500, A=11405,B=12647(62%=13500-11405), IF C =?? therefore = T1=12075-11940, T2=11880-11760, T3=11630-11560, IF a simple correction then T1
otherwise a complex correction then expect T2 TO T3 PRICE ZONES.
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