Here on the Pound/Kiwi we can see the previous week broke above our Monthly Level 1.9500, however, price failed to close above this level showing signs of weakness and potential for an upcoming retest of our Weekly Level 1.9250. On the H4 we can see the previous Breaker candle closed below our MAs signaling a nice opportunity to go short.
Comment:
After a few days of consolidation, price blew through our weekly support level for a 300+ Pip drop from the price given.