GBP strength in US session today is quite interesting. I said in my previous post today that I think MTD 11 was already IN at 5067.
However, if we could get a daily candle close above 1.4684 today or tomorrow without making new lows, there is a good chance that ITD 8 low has arrived at 4397. This is 2 trading days earlier than the April 27 average turn which is considered fine by Delta. If ITD 8 low could be confirmed IN this early, the ITD direction is then UP until around May 5, and there seems to be enough trading days to topple out 5067 if we could close above 4684 as early as possible.
Therefore, it seems that I have prematurely dismissed this scenario as unlikely before, and i need to bring this possibility back again. I presume if this scenario is to happen, it is going to inflict a lot of pain and eat lots of stop loss from people who are shorting earlier at 4700 - 4800
In any case, I am looking to build a short position regardless of GBP level (whether above 5067 or below) around May 5 after confirmation of ITD 9 arrival.
