The Forex Pattern, Price & Time Report – GBP USD – Mid Session

The GBP USD main trend is down.

The GBP USD main trend is down.  Now that the retracement zone at 1.6272 to 1.6161 has been violated, continue to look for more downside pressure.  The first objective to the downside is the June bottom at 1.5801.

This market is currently walking down a down trending Gann at 1.6263.  This angle should guide this market down over the near term.

James A. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor. Using W. D. Gann Theory as his core methodology, Mr. Hyerczyk incorporates combinations of pattern, price and time to develop his daily, weekly and monthly analysis. His firm, J.A.H. Research and Trading publishes The Forex Pattern Price Time Report... More