GBPUSD

Curve No 1 : Points towards a good Low on the 8th - 9th May so we may already be at Low around 1.2277 or we could move a bit lower than this point so watch price tomorrow and if we hold above this point we could get a good move up or alternatively we could get a lower price tomorrow so either the Low is in the place or tomorrow will register Low . There are two Curves I will present and the bottom one indicates Low for the 9th May and then up till the 17th May and then down till the 23rd May . These three dates are fairly strong in particular the 9th and 17th May so this is the first scenario that could play out so if price sets up for a Low or is already at Low this could present a good opportunity to get in and fairly cheap levels and once the price starts moving up from that point it could either move up till the 17th May or it will follow Curve No 2 which I will also outline .

Curve No 2 : presents another scenario . There is a Minor Cycle due either on the 12th or 16th May so my strategy would be to watch the price action leading into this date and if we run up from the 9th May Low and experience some resistance around this point and the price begins to turn down it could be a good point to take some profits or alternatively if price moves through this point and continues higher we could be up till the 17th May so as we lead into this point I will be watching to see how market reacts around this Minor Cycle date . At this point is a bit difficult to ascertain if the 17th May will setup as Top or Bottom but I think there is a strong probability of Low out from this point but we will have to wait and as we lead into it we should be able to determine the orientation of trend .