TmTRADES

GBP USD SHORT - 1.1500 TARGET

Short
FX:GBPUSD   British Pound / U.S. Dollar
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3
Monthly fibonacci confluence 1.1500
Weekly fibonacci confluence 1.1500
Daily fibonacci confluence 1.1500
Daily head and shoulders pattern
Spinning top candlestick at daily resistance

Fundamentals confluence - Englands interest rates low at 0.25% = weaker GBP
- USD rate hike to 0.75% = stronger dollar

Comments

unlikely target ,cant be that pattern at a current bottom,no prier up trend
Reply
@tone, We shall see how price action plays out. Price recently came back up and would have taken stops above the spinning top on the RS. Price then dropped down creating a bearish engulfing at the daily resistance. This was when the BOE didn't change their interest rates.
Reply
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