GBPUSD may be due for a correction but beware of thin liquidity

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 29, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The GBPUSD pair has been in a strong downtrend. However, profit taking, low liquidity, volatility and other "holiday" spices may turn the table. As I always advised, due to previously mentioned factors, holiday trading should be very limited. Technically GBPUSD has made an inverted Head and Shoulders pattern and if it manages to stay above 1.4870 we could see 1.4950 and 1.5010 levels just after the holidays. L3, DPP, E89 are constituting a strong confluence and if it were normal trading

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