GBP / JPY is being oppressed on higher volume than when I originally posted yet still holding up well, this is a good sign IMO we'll see how it plays off this next hour but it looks like loading to me.
Long GBP/USD at the moment, but I think that if the market does respect the structure it seems that it is forming a bottom. MACD is pretty good for figuring out the top and the bottom, normally when it's close to the bottom the market will dig a couple of holes to let people jump in and when it's near the top they will poke a hole in the ceiling whilst rain is on its way. I think it could be forming a double bottom but it depends on a couple of key bars pull back speed and lenght, otherwise it's just bluffing.
Also it looks like the BoE will do more QE, if not now then some point in the future. The USA is doing better than expected, so they may stop their QE. Even when the Americans do QE it's still much less than what the BoE is doing.
Trying to get the word out, I'm pretty confident in my picks to start off the week. I figure I should just make 1 thread to consolidate all this but oh well, I'm sticking to making a thread each time I make picks.