GBPUSD and failing to make a higher high rule

Author: Giles Coghlan | Category: Education

Victor Sperandeo's rule



In an uptrend, if a higher high is made but fails to carry through, and then prices drop below the previous high, then the trend is apt to reverse. The converse is true for downtrends. 

Nice little rule and 1.3740 circa is the 'I'm wrong' level. Previous high broken as price retreats lower. 
 
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