CCY : EURUSD GBPUSD EURGBP AUDUSD
Understanding the market conditions is best serve by reviewing how price action of the majors and crosses have performed from the past to the current price settings today. The sequence of trades refelcted in this "TRADE PLAN & STRATEGY" for the period coverd from: 6.17 to 8.16, 2013.
Based on our previous video support at FOREX: EURGBP CROSS -T- Perspective LIVE 8.01, placing a traiing order for liquidation has been made last August 01. And re-establishing trade positions as decribed in our recent market view analysis "T-Angles" Majors & Crosses" dated as far back as June 17 - to - August 16 2013 Trade Plans & Startegies.
Our focus has been mainly on the EURGBP cross rate chart configuration nearing its cyclical pattern using the FIBO Time Zone settings and a bearish Gartley pattern formation have provided us an early warning since July 28th and we have expected price action contrary to its up trend would soon be in the making. This is just the first signal indication while waiting for a probable market confirmation between the USD, Euro and the Sterling Pound and whenever the probablility of a najor correction would continue. The Key price action below the 0.8467- 0.8500 channel support levels would equally be crucial in the techncial perpective that would trigger and confirm this outlook.
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