If we break the neckline there are three potential spots we could move to, pick your preferred target. We could even go to pre-Brexit levels. Personally I would wait for a break and close below the neckline and then sell a move back into the neckline. It might a bit early to call this but better having something on the watchlist than looking back and missing a...
buy @ 1.20154 Right at the entry level we have major weekly support providing further downside protection.
bat: buy @1.25346 gartley: buy @1.26175
Fundamentals: - The UK came to its senses and a leave vote was a victory on Friday. This will of course cause a dip in the economy with the GBP reaching lows not seen since 1985 but just like 2008 it will bounce back except this time I believe it will be stronger than ever. We could see a drop to 12000 against the dollar over the coming week or the market might...
Looks like we have a breakout of some consolidation which leaves me to believe we can reach the 174.50 area.
Possible downtrend channel about to be broken towards the upside of .80 cents imo...
on chart.
Learn 2 trade like a pro - boafx.com - We are looking at taking a tecnical long in the fundamental direction for the GBP/CAD. The canadian dollar is weaker than the GBP at the moment and especially now that Oil has dropped back below the 44$pb handle. I expect to see weakness in the Canadian across the board.
Learn 2 trade like a pro boafx.com - This is an advance warning to look out for a candle stick reversal pattern at this current price. The RBA have just kept rates on hold which has caused the AUD to strengthen but the GBP is the stronger currency at the moment and should pull back at some point. The current price is strong support so we will be looking for a...