GBP is a nightmare at the moment. Since all the GBP chaos has emerged on to the headlines. We have seen GBP in a bearish state. But, before that we said GBP gaining a lot of strength. Official Brexit deal is still not completely been released yet.
We saw a huge spike between all GBP pairs last week, looking for liquidity as seen above. I still think there could be some serious sell stops in the area shown above. If we can hit that area then close back above. Confident in my Target being met.
IF, big IF. We close below this area. I will not be taking a trade. The area I have shown above is not a pending order, it is the area of value. I can't possibly pin point the area. But, round this area. Is where I am most interested in.
We shall see, some sort of 'Brexit Summit' On Monday. We will see how it plays.
All in all, GBP is a mess and is not easy to predict at the minute. I am just coming up with 2 ideas we can approach GJ with!
We saw a huge spike between all GBP pairs last week, looking for liquidity as seen above. I still think there could be some serious sell stops in the area shown above. If we can hit that area then close back above. Confident in my Target being met.
IF, big IF. We close below this area. I will not be taking a trade. The area I have shown above is not a pending order, it is the area of value. I can't possibly pin point the area. But, round this area. Is where I am most interested in.
We shall see, some sort of 'Brexit Summit' On Monday. We will see how it plays.
All in all, GBP is a mess and is not easy to predict at the minute. I am just coming up with 2 ideas we can approach GJ with!