Please be cautious when trading the head and shoulders breakout on this pair as it could result in a reversal. If the breakout is confirmed then look to continue buying but if the price shows signs of closing back below the arrow marked then get out because this could drop aggressively.
Another TP hit on this yesterday, now retrace it taking place. Looking for chance to re-enter a long around 0.382 Fibonacci. If price rebounds here target is 1.96382. Looking for a further target beyond that of 1.98041 but that may need to be a separate trade after taking profit and seeing retrace.
This now looks to be breaking above resistance. I said this was happening a couple of days ago but I jumped the gun slightly, hopefully if you opened the trade then you are still in. Now want to see this stabilise above resistance and possibly retrace to test it as support. If you are not in this trade then I suggest waiting for a retrace to support before...
GBP is looking very strong and I expect it to push higher. Price on this is currently at resistance but with the momentum this should go straight through it. I have set 2 take profits as I am ultimately aiming for TP 2 but TP 1 allows for exiting the trade and re-entering after a retracement.
If you look to the arrow marked you will notice a purge of support, we are now looking to purge the resistance.
ideally, I would like to see a slight pullback to the most recent structure before upside continuation to the liquidity.
As we can see we are inside a consolidation zone. Inside in this area we have noticed that we have formed a strong trendline that represents support, and we have broken this support after 7 hours of trying.
Now we will wait for the retest of this Support which is now resistance and again the Bearish movement until the touch of our Target.