GBP DailyI'm bullish on spreads only because of the view of price moving back into September 50% levels.
But at this stage nothing suggests that a UP move is going to take place on Tuesday.
No probability pattern on Tuesday:-
If there is an UP move on Tuesday it will have to be breaking above the 3-day filter, which I can't see happening at this stage until US trading hours...
I'm much more bullish on a reversal pattern when the 3-day filter drops below the 5-day 50% level.
When that happens I'm more inclined to look for long positions on the breakout above the 5-day 50% level.
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
