As you can see from the attached 4 hour GBPAUD chart, the 20EMA did a fairly good job of holding up price since 05 November. Dips below the 20EMA were not deep and did not last long either, indicating that the bears had no strength.

This seems to be changing now as evidenced by the pin bar of Friday and price action after that, giving rise to the thought whether bears are trying to gain control.

I also took a look at 4 hour charts of GBPCAD and GBPUSD and I see the same thing happening. We seem to be making lower highs but no lower lows yet.

I am looking for a big move to the downside to give more credibility to this theory, but will remain alert to this possibility till then.

Regards

Views: 209

Comment by Oasis on December 7, 2013 at 8:31pm

Hi Brian, you really only fall in love once. :) This is no trade idea yet, just sensing that GBP may not be so hot for much longer. Will just monitor price action over the next day or so.

But I do want your opinion on USDNOK short - see picture already posted.

Regards

Comment by Oasis on December 7, 2013 at 11:13pm

Thanks Brian, your USDNOK numbers are not all that encouraging. However if Oil keeps going up then my short should work out well.

Comment by Oasis on December 11, 2013 at 1:09pm

GBPAUD has not made it yet but GBPCAD and GBPUSD are on their way. See chart.

Comment by Oasis on December 11, 2013 at 2:30pm

Yes Brian, looking like they will breakthrough.

Comment by Oasis on December 11, 2013 at 3:50pm

Hi Glider, looking good so far. Time will tell

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