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  4. GBP/USD Master Candle Marks Trend Continuation

GBP/USD Master Candle Marks Trend Continuation

February 08, 2017 13:45

As I showed on Session Recap webinar, the GBP/USD has been in a steady uptrend that was almost interrupted by a stop grabber candle that was initiated after bad GBP/USD data yesterday. At this time we can see a Master Candle (MC) formed and a breakout above 1.2518 should spike the price towards 1.2560 and eventually 1.2600 zone. If a MC breaks lower below 1.2474 then it should retrace to POC zone 1.2435-50 where we might see a bounce towards 1.2515 and above. At this point the GBP/USD is still bullish and watch for a possible trend continuation.

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