GBPUSD Monthly Outlook 01/11/2017
Cable has been respecting the ascending Monthly trend line as highlighted with lots of Higher highs being created.
This month not only was the ascending trend line respected and rejected with a very long wick, we also closed above the Descending trend line.
on the lover time frames we have a strong 0.618 retracement on the Daily.
I think we could see the pair rise to test recent highs at the 1.34000 level and possibly even a retest of the 1.40400 area
This month not only was the ascending trend line respected and rejected with a very long wick, we also closed above the Descending trend line.
on the lover time frames we have a strong 0.618 retracement on the Daily.
I think we could see the pair rise to test recent highs at the 1.34000 level and possibly even a retest of the 1.40400 area
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