Im looking to take the Gbp / Usd long towards 1.26000+ area as sellers have showed indecision around the 1.23900 pivot support i will place on 8hr chart at 2pm close if price hasn't been broken at 1.24541
Beware of the level that the the Aud Chf has made it to today this level has seen 2 major drops from break of this price.
My trade decision is short based on it being a test of recent resistance and there is lots of indecision on smaller time frames.
I now believe the eurusd bearish bias to be seriously over sold ,
The buyers look like that are starting to gain a control over further falling movements.
A bullish engulifing candle is being created on the 1hr lets see how the candle closes
After a section of market value I'm looking at a break of swing around 86.388 and continue towards the target down towards the 83.000 psychological level il be leaving the trade before 84.199 support.
Reached strong area of resistance, looks to be exhausted with a doji forming at the top of the uptrend. Showing signs of indecision, looking for the market to turn around.
Looking to short of of resistance.
I would likely take half of the position off the table at the trend line and manage the remaining position behind the previous candle.
Biased on my 8hr price action I'm looking at taking the Gbp/Usd Long from around 1.25500 wish level up till 8hr resistance around 1.26200 level in the resistance if any indescesion is formed will look to short from resistance area back down to 1.25000 psychological level.
