GBPUSD Market Outlook 3 Feb 2018
As we have discussed in our last post, we have introduced a powerful new tool called equilibrium fractal wave analytics. So we will be using them actively for our market analysis. By the way, here is GBPUSD screenshot. You can tell many things going on. GBPUSD reacted around 300 pips during its bullish movement (H1<H1, Harmonic Pattern Plus). Then it broke down through EFW Channel (circled in Yellow) for around 100 pips. GBPUSD came down to retest the bottom of large triangle (H1<H1 Price Breakout Pattern Scanner). Yes, there are possibility of breakout through the triangle. However, note that one of the shape ratio 0.618 is just below the triangle too. Therefore, you need to watch out this shape ratio at the same time to ride the possible volatility.