sure looks like prety strong resistance thats for sure. But this is where it shouldve been before the news earlier this morning from NY

Auslanco - GBP/JPY and GBP/USD (newstrade)

looking like a bear flag of sorts on the 5TF. If it plays out it'll bring us right to the 154.9 range (which is good support area) Good place for longs as Q pointed out

Auslanco - GBP/JPY and GBP/USD (newstrade)

agree 100% Q. the news threw a small wrench inthe gears this morning and got us below a support level but trend I think is ultimately unchanged as you suggest

Auslanco - GBP/JPY and GBP/USD (newstrade)

what ya bet it ranges in between the fibs for awhile 155.96 and 155.11 we'll see

Auslanco - GBP/JPY and GBP/USD (newstrade)

Well that was worthless. Short sweet and out at BE

Auslanco - GBP/JPY and GBP/USD (newstrade)

Already short at 155.693 but watching closely.plenty of bouncing opps right below with FIB , monthly and daily pivot

Auslanco - GBP/JPY and GBP/USD (newstrade)

I understand what you meant, and at a setting of 8 my RSI is under 30 as you can see in my chart. Thats what I was referring too.....on the 15TF

Auslanco - GBP/JPY and GBP/USD (newstrade)

opens in 10 minutes

Auslanco - GBP/JPY and GBP/USD (newstrade)

5 and 15TF on RSI shouldnt be more than "8" IMO 10 for 1 hr 12 for 4hr 14 for daily I find it makes quite a difference

Auslanco - GBP/JPY and GBP/USD (newstrade)

another fib support at 155.11 and RSI is oversold at the moment on 5 and 15TF.

Auslanco - GBP/JPY and GBP/USD (newstrade)

you know, before the news, we were sitting on a fib support and forming a bull flag worth about 170 pips if it played out. If we assume that the news spike wont ultimately effect the original direction of the trend, then we're headed for 158 +/-. ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

interesting observation. History does repeat itself as you have pointed out. Some traders are looking at 950 onthe S&P as a "bottom" for this correction. Others are looking at needing to close above 985 today to hold the bulls in place. We'll see ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

The thing that made it great was the fact that all eyes were on one pair as Y.E.Yang was paired with Tiger and then to watch Yang play stroke for stroke with Tiger was pretty kool. He was ranked 110th in the world till yesterday. Although I didnt ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

hey, for a young man that makes $100 million plus a year, he's a market mover, lol The last 5 holes were awesome to watch for those that enjoy it. Tiger choked and Y.E. didnt flinch

Auslanco - GBP/JPY and GBP/USD (newstrade)

Next stop is the 61.8 fib at 153.21/24 followed by a pause before deciding whats next. We'll see what NY can do. Meanwhiile we have a gap to fill above, hmmm. and a bigger picture

Auslanco - GBP/JPY and GBP/USD (newstrade)

50% fib coming up at 155.08. May be a good spot to long. next stop 153.21 if it breaks through

Auslanco - GBP/JPY and GBP/USD (newstrade)

Showing bullish divergence on RSI 1 and 4hr and for now, 38.2 fib holding as support. Jap GDP wasnt up to par as we know as well. So up for a bit is more a possibility than before market opened IMO And oh yeah....gap is not closed. maybe after ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

On the same page Raza Jap GDP 20 minutes

Auslanco - GBP/JPY and GBP/USD (newstrade)

FWIW, had a 66pip gap down on the open

Auslanco - GBP/JPY and GBP/USD (newstrade)