GBPUSD

Looks like a clasic breakdown of a consolidation triangle if you go back long enough remo. Could be bad long term for GBP but that's normally good for the economy and exports I guess.

Probably have to be looking at a short on a backtest of the trendline if it closes below.

Really weird day today considering yesterday's rejection of sub 1.56.

That was a short lived trade of mine.
back on the sidelines . The fact that it finished below the hammer means it could be down from here on. If it does finish the day below the hammer it will mean a trend line break as well.

Yeah, same in the Euro pairs over the last few weeks with some big false breakouts and huge daily price moves.

Time for me to step aside and wait on the sidelines for trends to re-establish.

Some seriously crazy swings going on here...

Im going long half way down the hammer as the hammer formed right at support and my stops are below the hammer.
So my entry is at 1.5620
stops are below 1.5570
so risking 50 pips



DYOR

I'm still waiting for end of day but looks like there could now be a hammer on a bullish RSI divergence (daily chart) with a close above the uptrend support.