GBP/USD: Slight short then continue LONG position
(apologies for the messy confusing graph, just how I understand)
Still expecting the market to reach the original target of at least 1.56720 in the long term.
In the more short term, the market may follow the "more likely" red arrows and fall just above the 0.382 into the blue area before continue to go long until the "less likely" weaker resistance around 1.56237.
another scenario may be that the market follows the orange arrows further down to the 0.236 level where we may see sluggish behaviour before joining the full red arrow where it will go long until it reaches our original target.
Red Dotted Lines: Familiar Resistance
Red Solid Arrows: Certain Movement/Direction
Red Dotted Arrows: Highly Likely Movement
Orange Lines/Arrows: Weak Resistance/Less Likely Movement
Still expecting the market to reach the original target of at least 1.56720 in the long term.
In the more short term, the market may follow the "more likely" red arrows and fall just above the 0.382 into the blue area before continue to go long until the "less likely" weaker resistance around 1.56237.
another scenario may be that the market follows the orange arrows further down to the 0.236 level where we may see sluggish behaviour before joining the full red arrow where it will go long until it reaches our original target.
Red Dotted Lines: Familiar Resistance
Red Solid Arrows: Certain Movement/Direction
Red Dotted Arrows: Highly Likely Movement
Orange Lines/Arrows: Weak Resistance/Less Likely Movement
