Open trading account 
10th March 2015
Sterling made a low against the dollar on the 6th March which agreed with the 40 day cycle and also the 20 day cycle, I was waiting for the low to be retested and rejected, as is the case with double bottoms. Today sterling briefly retested this low and was rejected, this means that there is a good chance we will see a rally to about the 14-15 March in sterling and a retest of the previous highs around 1.55 area.
My bias is long GBPUSD until the end of the week.
We might get a play out similar to the previous price action forming a classic "M" shape, so I am treating this as a correction and not as a new trend,
Sterling made a low against the dollar on the 6th March which agreed with the 40 day cycle and also the 20 day cycle, I was waiting for the low to be retested and rejected, as is the case with double bottoms. Today sterling briefly retested this low and was rejected, this means that there is a good chance we will see a rally to about the 14-15 March in sterling and a retest of the previous highs around 1.55 area.
My bias is long GBPUSD until the end of the week.
We might get a play out similar to the previous price action forming a classic "M" shape, so I am treating this as a correction and not as a new trend,
