If price continues with the bullish momentum and actually breaks and closes above the key level i have market up in red we could then potentially see price continue to rise to the previous high in the market.
The technical side of this look on the market is that price seems to have formed a bullish flag on the H4 timeframe and if this then breaks to the upside this pattern could be completed by another impulse upwards. thats just something we will have to be patient with for now.
There is GBP news 14th so we will see how price reacts to that and whether or not the pound gets heavily effected by that, but looking at past data there hasnt been many times this kind of news has made a major impact on technicals
This is just my outlook on the market! the stuff i post is never set stone:)
Thanks and trade safe!
The technical side of this look on the market is that price seems to have formed a bullish flag on the H4 timeframe and if this then breaks to the upside this pattern could be completed by another impulse upwards. thats just something we will have to be patient with for now.
There is GBP news 14th so we will see how price reacts to that and whether or not the pound gets heavily effected by that, but looking at past data there hasnt been many times this kind of news has made a major impact on technicals
This is just my outlook on the market! the stuff i post is never set stone:)
Thanks and trade safe!