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In line with yesterday’s assumptions, the British pound followed the plan exactly as we had assumed. At the moment I am faced with a small dilemma. The currency pair made all the adjustments I expected. Unfortunately, the last one was at night and I wasn’t able to use it or show it to you, but the pound often follows the same pattern. During a movement that is divided into two phases, we mark it OverBalance (or correction 1: 1). More simply, this is an example from yesterday, descending to 100 pips -> stop -> further move for the same number of pips. The correction after such a move is made to the entire move around 140 pips, not the local one. (anyway, I can help).
This is how it is in the Forex market that you cannot be sure of anything, and I am currently waiting for the situation to develop. We have a basis for a shift in the short-term trend after the price tests yesterday’s low. If the price behaves as in the picture, we can expect a continuation of increases and an attack on the resistance level.
