GBP/USD, GBP/EUR, GBP/JPY, EUR/USD, USD/CNY, DXY
OILEX LD ORD NPV, LLOYDS BANKING GROUP PLC ORD 10P, PREMIER AFRICAN MINERALS LIMITED ORD NPV (DI), W RESOURCES PLC ORD 0.1P, FRONTERA RESOURCES CORPORATION ORD SHS USD0.00004 (DI), VODAFONE GROUP PLC ORD USD0.20 20/21
FTSE 100, DAX Index, Euro Stoxx 50, S&P 500, Nasdaq Composite, Nikkei 225
Gold, Silver, Crude Oil, Brent Oil, Natural Gas, Bitcoin
BTC/USD, ETH/USD, BCH/USD, XRP/USD, LTC/USD, ETC/USD
US 10Y, Euro Bund, Germany 10Y, Japan 10Y Yield, UK 10Y, India 10Y
Gold, Brent Oil, Crude Oil, CFDs on Natural Gas, Palladium, Silver
GBPUSD has broken old resistance at 1.2405 now at the 38.2 FIB Level. Will be looking for a trade either side once we have more price action and confirmation of direction,
Ok there seems to be a lot happening to back up a short.
Previous support acting as resistance pushing down on price
This setup has occurred several times in the past and every time it falls around 15% this would take us to the major trend line and 78.6% fibs.
All in all this is looking like a good setup, wait for ...
Will resistance be respected or ?
- Major bullish engulfing candles in the mix.
- EMA's look like they may cross soon indicating a change of trend.
The next candle close could tell us what we need to know.
The pair appears to be approaching the 61.8% re-tracement level after find support around the 1.27654 level. I will be entering this one on a smaller time frame to try minimize my stop loss and maximized my Risk/Reward