OVERALL UPDATE; POSSIBLE DIRECTION FOR NEXT WEEK:
With currencies busting out of range, Id say GBP USD is close to resistance turning support and USD CHF vice versa, support turning resistance. If GBP closes above 9040 today it will try for QUARTERLY RESISTANCE AREA1, which is
However before that, there is
MONTHLY RESISTANCE AREA2, which is:
Now my idea then would be to
buy pullbacks based on daily support levels, and BUY WEAKNESS in price action.
Further on, my trend termination levels on GBP USD calculated 3 months ago are:
| 1.8702 |
| 1.8844 |
| 1.9020 |
| 1.9304 |
Now since three levels were taken out easy, 9300 looks as a strong reversal area and if you notice, it's also in Quarterly Resistance