GBPUSD STILL LOOKING GOOD

Do I keep pushing the issue just to prove I am right? I have been waiting for an entry opportunity for a long time and of course I swear I see another entry. The chart above is the daily chart of GBPUSD. As I have stated many times before, the trend is down on a daily chart. I am still waiting for a proper entry on a 15 minute chart since the 1 hour chart still shows an upward channel as seen on the second picture on this blog.

Here are the important numbers that I see on the daily chart:

Resistance at 1.6375 based upon the lower trendline drawn on the daily chart above.

Fib #s 1.6460, 1.6314, 1.6198, 1.6079 on a daily chart.

Here is the one hour chart (above). As you can see, there is still and upward channel and it still has yet to be breached. As of 22:00 hrs MST, it appears as if the pair is either going to bounce back up or finally break back down. If this bounces up, the fibs show me that the 1.6460 level could be reached on the hourly chart. If it breaks down, targets are 1.6314 and then 1.6198 based upon fibs and in between that, 1.625 based upon support.

So here is the 15 minute chart and it shows that an entry is not feasible at this time.

It is going to be a wait an see game.