Get started

Weekly_structure

GBPUSD weekly - downtrend continues ?The USD still going very strong in all currency pairs and as long as buying Gold is not an alternative, I see this bearish trend continue. Based on structure and ratios, I see a potential AB=CD pattern in the making which would complete around the 0.786 retracement of the last impulse leg. It will however not be a straight run down the hill as we'll have to break through some previous structure to get there. Currently the RSI is very oversold, so we can expect a little rally back up into previous structure before trend continuation.
Short
by Profit_Through_Patience