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GBPZAR potential for a big rally

Panjang
BRITISH POUND / SOUTH AFRICAN RAND (FX_IDC:GBPZAR)  
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FX_IDC:GBPZAR   BRITISH POUND / SOUTH AFRICAN RAND
GBPZAR britain southafrica Forex forexsignals forextrading LONG buy longsetup Falling Wedge support Support and Resistance breakout breakouttrading waves Fibonacci
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gbpzar britain southafrica forex forexsignals forextrading long buy longsetup fallingwedge support supportandresistance breakout breakouttrading waves fibonacci
Falling wedge with 5 hit points, approaching a 6th and final one for a strong breakout.

Excellent previous structure support (indicated by the horizontal black line) asking for a rebound into the upside. I think that this falling wedge will accentuate the rebound off the support line.

Major bullish divergence on the RSI occurring in the oversold region.

Profit targets are indicated by the horizontal green lines.
Komen:
Despite the break below, I still expect break above the wedge due to the strong structure support.
Pesanan dibatalkan

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Penafian

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