GBPUSD No more Teddy Bears

Good morning.

There was a big bullish trend yesterday: during the only one day, the price have managed to breakout all the previous MAX levels.
And it looks like we are going to break these new levels too...

Right now we are in correction.

Take a look at the picture

I marked out all main levels as usual - they are red lines on the chart. Black lines are the targets of the descending correction. I will hardly sell today: correction may be finished at any time. For me only short sells are possible. I will wait for a breakdown of a level, a little rollback to it, and if the price won't manage to breakout it, then I will sell SHORTLY. Probably I will close such a trade on the previous MIN level before the rollback. But you must remember, that if you are not an experienced trader, then the chances are that the price will touch all your stop levels, and then it will make a reverse.

Ascending trading is safer today, but correction may be veeery long...

I will buy at the levels, that I marked out in black. The safer BUY point will be after the breakout of the MAX level, but there you must watch out for the irregular correction, in which wave B can possible fix a new MAX.

One more moment. As you can see on my chart, I use 4 MAs, and one of them is a heavy one - its period is 233. Right now the price is very close to this MA, and this line should become a good support for the price, when they will collide.

I will watch GBP movement on the basis of these levels, my MAs. Also I will post DJ levels here later, when DJ will publish them.

I will be glad to see any of your comments, and I will gladly answer to any of your questions.

Best Regards and good luck in your trading!
Anthony Schneider.