Pound/Yen Forecast for May/June

I'm looking at this as a corrective retracement of the previous downward impulse.
I've drawn a speculative channel and inserted a few fib retracements and extensions
Given that it's correcting the previous move I would expect to at least reach the 38.2 fib retracement
If the channel is true we could also see a 50% fib retracement.

Naturally price will not go straight up so expect corrections along the way.

I will update this chart as and when I see trading opportunities so remember to follow to receive them.
You can also follow updates via twitter (link via my TV profile)

Always wait for an entry set up before risking your money.

This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome

Good luck Steve

Yorum:

I'm looking for a correction soon