GBP Daily and 3-day patternGBP continues down towards the August lows, as most spreads against the USD are following the same pattern.
As I mentioned in yesterday's report, have a look at the other two spreads to see if the opportunties arise, and the same can be said on Wednesday:-
Wednesday:- Breakout on Monday's lows and failure to re-test the breakout on Tuesday often favours an UP day on Wednesday to come back and fill some of the range:- 5-day 50% level.
No probability pattern on Wednesday:- but if looking to trade longs the brown intra-filter has to be the trend guide. (higher risk)
But keep in mind GBP is trying to move lower and ideally a higher daily close should hopefully provide a set-up on Thursday for the down trend.
- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
