I have no EW-count on this chart, but wanted to alert you on the collasing of the minor rising trend back from May 2010. Expect the 156.40-156.74 area to protect the upside for a break below 155.29 and to accelerate the decline lower.
Showing posts with label GBP/USD - Minor rising trend is collapsing. Show all posts
Showing posts with label GBP/USD - Minor rising trend is collapsing. Show all posts
Thursday, December 16, 2010
GBP/USD (Cable) - Trend is collapsing
I have no EW-count on this chart, but wanted to alert you on the collasing of the minor rising trend back from May 2010. Expect the 156.40-156.74 area to protect the upside for a break below 155.29 and to accelerate the decline lower.
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