As you can see the GBP/USD kept dancing around the 200 EMA area,
not a big surprise as Brexit is gonna continue to throw a lot of volatility in this market due to this fact that occasional headline or a rumor can come out to throw everything out in the disarray.
I do believe fading rallies will keep continue as the market already making L.L. L.H. L.L. as marked in the chart.
last week we tried to break the 1.28000 areas several times and failed.
So, as this point, I believe we are going to look towards 1.25000 although that doesn't necessarily mean you are gonna jump with both of your feet, its just the structure is certainly favoring the downside. and now 1.25000 psychological and structural support is calling.
Disclaimer: This is not a signal or trade call. Its only for educational purpose, try and synchronize with your own trading plan if you find this Idea useful.
Feel free to share your ideas in the comment section.
Cheers!
not a big surprise as Brexit is gonna continue to throw a lot of volatility in this market due to this fact that occasional headline or a rumor can come out to throw everything out in the disarray.
I do believe fading rallies will keep continue as the market already making L.L. L.H. L.L. as marked in the chart.
last week we tried to break the 1.28000 areas several times and failed.
So, as this point, I believe we are going to look towards 1.25000 although that doesn't necessarily mean you are gonna jump with both of your feet, its just the structure is certainly favoring the downside. and now 1.25000 psychological and structural support is calling.
Disclaimer: This is not a signal or trade call. Its only for educational purpose, try and synchronize with your own trading plan if you find this Idea useful.
Feel free to share your ideas in the comment section.
Cheers!