thank you, agree that count might be valid but keep in mind that wave 5 in rare occasions could be flat or even fail let's see what geppy will do this week

Auslanco - GBP/JPY and GBP/USD (newstrade)

how do u count the previous cycle of PA?

Auslanco - GBP/JPY and GBP/USD (newstrade)

look at weekly differently we can read the chart as bearish flag too on weekly with 171 top also please note for the pattern of recent weekly bars, the strong bullish bias did not create strong bullish pattern on weekly, which might give us a hint ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

personally I don't think so, still there is a selling pressure on cable but the reason to current rally lies in UJ (strong dollar) when UJ will drop, geppy will follow

Auslanco - GBP/JPY and GBP/USD (newstrade)

usually 200 SMA considered as mean for any security, which fluctuates around that mean, so my bias is bearish until price will not prove bullish by closing over 200 SMA on daily and confirming that

Auslanco - GBP/JPY and GBP/USD (newstrade)

if price will not move more than 144.8 then we have H&S with head topping last week on very strong R 145 level (triple top)

Auslanco - GBP/JPY and GBP/USD (newstrade)

also there is huge resistance @ 146.3

Auslanco - GBP/JPY and GBP/USD (newstrade)

price is in striking distance of 200 SMA on daily (145.5) and I expect short at least to 141

Auslanco - GBP/JPY and GBP/USD (newstrade)

keep in mind that every top is sold too; we are in ranging market

Auslanco - GBP/JPY and GBP/USD (newstrade)

from your historical charts PA shall be ranging at the current level with lesser volume and lower range until distribution accomplished and exhausted (we must see PA stalled before the fall)

Auslanco - GBP/JPY and GBP/USD (newstrade)

last week geppy made intermediary top 145 from bottom 132; on weekly and monthly price is still below 200SMA and 50 SMA which means that PA is still bearish on both TFs on daily price is playing BETWEEN both MA (under 200 SMA and over 50 SMA), which ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

agree but it looks like on daily geppy still wants to post intermediate bottom

Auslanco - GBP/JPY and GBP/USD (newstrade)

agree that 142.6 might be nearest target for now and from there let's watch further development

Auslanco - GBP/JPY and GBP/USD (newstrade)

as to me that move up just was accomplished

Auslanco - GBP/JPY and GBP/USD (newstrade)

still there is a down trend channel on daily with 144.2 top and if 144.5 is broken then geppy might reach 146 or higher JMHO

Auslanco - GBP/JPY and GBP/USD (newstrade)

here is the H4 chart which shows 4 possible targets for bullish move: 1. light green Pitchfork (currently turning down)- possible top 2. red Pitchfork - 143.6 3. orange Pitchfork - 145.2 4. white channel - 144.5 from any of those targets the most ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

price is over 50 and 200 SMA on H1 and H4; so bears will get confidence after price closed below 50 SMA only till then still there is room for up move

Auslanco - GBP/JPY and GBP/USD (newstrade)

geppy could run up to 145 for still there is room to do that but even that huge move will not eliminate the bearish bias

Auslanco - GBP/JPY and GBP/USD (newstrade)

this pair plays with TWO pairs: GU and UJ and sometimes moves in different direction to one of them; also this pair is very sensitive to any rumors (G or J) CAUTION should be the sign of this pair

Auslanco - GBP/JPY and GBP/USD (newstrade)

agree that main (monthly) direction is bearish but it looks that bulls have not finished yet with their efforts and geppy could reach 143.5 or higher; 144 level should be watched out

Auslanco - GBP/JPY and GBP/USD (newstrade)