Although the GBP moving average is showing strong, so is the USD and the USD index still bullish from last night.
GBP is now over bought and needs a pull back before it breaks through the next key level.
IF we break out above 1.2160 the short term trend remains your friend *bullish
Watch the GBP moving average sellers sat at 1.4436
I would recommend to close on current levels 10500-10750 at-least total of 15% of the positions.. I do believe that we will test 10150... but since im going to sleep I always prefer to take small profit just for any case if we wake up and suddenly big buys appear (also the break downwards was weaker then I thought it would be)..
SLs to profit at 11010.
NzdJpy providing a potential shorting opportunity. I would be looking at a short in the higher red zone if we get a pullback and look to continue the short term downwards move for a retest of the lows at least.
Hi guys, I hope that you are all are well! This week we have seen continued bearish momentum in GBPJPY to which has seen prices push close to 141's even, which is a very important and psychological level for this pair and we also saw prices retest a strong area of structure support (Daily) of 141.00 - 141.30's to which we have since seen some relief in selling...
FX:NZDUSD Short based off previous structure and potential pullback.
Looking for price to pull back in to my zone drawn. Then after some bearish price action will look to enter next bar short.
Risk would be ATR based, reward at previous structure.
Debenhams will be going into overbought conditions soon and there will be the opportunity to trade the pullback. So look out for confirmation of the pullback beginning in the next few days and short this stock when the price starts to drop. It should not go higher than the 50 day moving average so I would suggest putting your volatility stop loss there. Good...