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Suppose there is a top in place in Gbp/Usd, where would the price go from here,
obviously down - but how far, I have an Idea:
First of all a look at the daily chart:
Presuming a top is in place, I have drawn a Fibonacci retracement from the last move up,
daily RSI-14 is still well above 50 at the moment so there is room for a move up, and this analysis would be wrong
But if a top is in place the first natural retracement area should be a 50% Fib retracement,
this is also where the SMA50 line is …
obviously down - but how far, I have an Idea:
First of all a look at the daily chart:
Presuming a top is in place, I have drawn a Fibonacci retracement from the last move up,
daily RSI-14 is still well above 50 at the moment so there is room for a move up, and this analysis would be wrong
But if a top is in place the first natural retracement area should be a 50% Fib retracement,
this is also where the SMA50 line is …