Monday, May 10, 2010

Typical chop conditions to be expected in the GBPUSD (FOREX)


The GBPUSD could get choppy over the next couple of days after two pin bars in opposite directions formed on the daily. It shows indecision among market participants, at first buyers buys bought and absorbed the selling on Friday and then today the opposite happened Sellers took control of the excessive buying and pushed prices down. This would signify a range in my analysis. That range will be eliminated once the high or low is taken out and either the bulls or bears regain control.

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