gbp finally going back into its weekly support level!

we have some very interesting price action with the gbpusd. we have had a hard time breaking through minor levels to go back into weekly/monthly support level and after so many attempted failures it seems we are finally about to get it. on daily charts we have a spinning top at a retouch level before the market continued down and we break it down to our 4 hr and find a clear double top! clearly the impulse leg broke very important levels and now we find ourselves at a correction retest which fell into a 61.8% retracement of the impulse. i am expecting price action to go back into the mid 30s area where we have weekly/monthly levels and i am expecting it to happen within the next few months or even years possibly. i might expect a small retracement of either 38.2 or 61.8 of the double top before the market continues down and breaks the correction trendline. but my forecast is a long term downtrend for this pair. i will provide more pictures in the comments

Trade chiuso: obiettivo raggiunto

Commento:

9/5