GBP Daily and 3-day patternGBP heading down into September lows, and probably will continue down into October lows.
I would have liked to have seen GBP move up on Tuesday into the 5-day 50% level and then continue down.
Wednesday:- Breakout of Tuesday lows and normally price will continue down, but if price is trading above the brown filter on Wednesday the bias is to move higher.
Higher could be simply remaining below Tuesday's lows and then continuing down, or actually completing the move back into the 5-day 50% level.
Note:- the expectation is the price is moving into the October lows, but it can still do it in two ways...
1. continue down this and next week.
2. reverse up into October 50% level and then continue down later.
Therefore a move back into the 5-day 50% level could be part of a swinbg back into the October 50% level later this week.- All Daily forex reports are written before 9.00am Sydney Time, which is approximately 3 hours before Midnight GMT
