Apologies the chart looks a bit squashed but its easier to see everything on the daily
We can see price has reached its daily resistance and been rejected
We can also see price has tried to retest a broken support level
Now we are looking for structure to be broken / bounce off a fibo level and a short down to the 127.0 fibo level
Price has now pulled back down into the previous key resistance level, We will be looking into the lower time frames to see if this level becomes support, so that we can look for potential long opportunities tomorrow.
Option 1. GREEN
Price has been moving to the downside for some time and I am looking ideally to take a buy position at the lower trend line. Price could just move correctively and then push up, form a flag from which I would then be taking a position on the 1HTF.
Option 2. ORANGE
Price could retrace from here, form a bull flag which I would take to the...
The support ZONE was tested four times from 2019 until now and once the price past below .
We wait for fundamental data and analysis to see if the country is improving the economy and makes the pound stronger.
like gbpusd we have here a daily resistance zone , that could stop the pair for continuing up or may have further downside movement.
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Another nice and easy trade this. This pair is on a bullish run and we have seen a nice pullback followed by a bullish engulfing candle which suggest trend continouation of a bullish run. I have gone long on this and marked tp and sl for you as well.
Let me know your thought. Trade safe and good luck.
I hope you're well. As you must have witnessed recent rally on all GBP related pairs purely due to election sentiments. As things stands we can see the Tories are set for a majority but it is not easy as it seems and neither a plain sailing. We should see labour closing gaps and few other hiccups in coming days prior election and probably a hung...