Havent been trading this pair for the past week till today... looking at the charts, most pairs are pretty much unsure of where to go....
mainly cos they have already tested the 1st bound (H4) ...so are they going to test the 2nd bound too? Of which is really tested and succeeded... then the D1 trend of Upflow (for most pairs - particularly GBPUSD) will resume.
So it's rather crucial now... my FX sifu alerted us that some pairs are start to show signs of resuming upflow... reason, they have been broke Key Supports and now went back up above Key Supports... most USD Pairs show signs of this.... with an ugly Double bottom on H4 (neckline is the 1st bound)....
Hence, I was looking for a possibly BUY set up for GBPUSD... see my fail trade below...
27-08-2010-GBPUSD- LONG
-Mayb my entry was too early... hmmm...
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