GBP Weekly and Daily chartsThis week we were looking for a rotation back upwards into the April Balance Point and Weekly 50% level.
This was completed on Friday, and GBP was pushed back down into the close.
The Weekly timeframe from March has ended and now GBP is trading in the middle of major timeframe looking to 'thrust' back out to the outside Monthly channels.
But at this stage it's too early to tell the direction of whether that will be UP in April, or Down.
A bounce off the April 50% level early next week and move above the Weekly 50% level will favour a move higher.
GBP intra-day...
As the previous report suggest, I was looking for a move higher on Friday towards the 5-day highs, which matched the Weekly 50% level, but I also was looking for a reversal back down into the 5-day 50% level...
This played out.
Early next week, traders need to trade on the side of the 5-day 50% level, because last week there was no breakout of the 3-day highs, it was simply moving with the ranges each day...
Daily Report next Week....
