Forex Analysis: During the London Session, GBP had a major news release with Average Earnings, also along with Claimant Count Change. During European Session GBPJPY has already created the top. So it reacted second time near Uranus line & created a failure swing high pattern. After GBP news release market has fallen 50+ pips since then. Thus GBPJPY Uranus Double Top formed.
In this chart, we have used SFX Intraday Planetary Line Astro Pack Indicator on Metatrader 4 trading software.
Why Uranus Planetary Line?
We have marked the timing of Uranus opposition aspect with the moon. Thus there was a possibility that market could touch Uranus opposition line or Uranus direct planetary line. Eventually did touch the Uranus price line during the europian trading session. Throughout the day, we can see in the text box Sun & Mercury has major powerful aspect. But as the market didn’t touch the sun or mercury line, so we only worked with the planetary lines which are reachable for the market.
Also in this picture, we can see, market recently touched the south node line & sharply reacted to it. That’s good correction point.
Moon Ingress & US Session:
After the market has fallen 50+ pips at the current time we can see another aspect, moon ingress is coming during US session. Our indicator shows that with this moon ingress market trend could continue. Thus we can expect the market will continue the downtrend below 150.90 on if it gets pushed by USD news releases. But bear in mind, we need to get confirmation, if the market goes above 151.30 then chances are pretty less for the downtrend continuation.
As we have mentioned earlier that GBP had major news release. It causes the market to fall. GBP Average Earning outcome was same as expected. Thus it created a negative effect on GBP crosses. GBPJPY was an ideal pair in this situation to be effective. During the mid-US Session upcoming Crude Oil Major news release is coming for USD, also with the president speech. Thus we can hope for some volatility for the further market movement.