GBP/USD Daily Video, January 29, 2015

Sive Morten

Special Consultant to the FPA
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18,695
Good morning,
we've not taken a look at GBP since independence voting. Market has shown miserable plunge since then. But right now it stands at very interesting level that could become a reason for appearing patterns on lower time frames:




The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.
 
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Good Jan 29/15 vid on GBP/USD. Well done re reverse head & shlders. One Q: you mention area around 15050 for reverse R shoulder. GBP went down during Jan 29 session to 15018 as I write. In your view is that too big a drop to be a reverse R shoulder? Or does it keep the pattern intact?
 
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