This could be a major reversal point here based on past price action. We have tested this level and bounced off multiple times previously. For this to be a reversal we need some kind of pattern around this level.
I'm showing why I think Cable - GBPUSD is bullish. There are opportunities for the north on 1D, 6H and 4H time frames. There are opportunities for a shorting on the 1H time frame and lower. It all depends on the size of an acceptable loss.
HERE WE HAVE A PAIR THAT IS A PERSONAL FAVOURITE OF MINE, A PAIR THAT I FIND RESPECTS LEVELS WELL WHICH SUPPORTS THIS ANALYSIS. PRICE HAS BEEN ON AN AGGRESSIVE DOWNTREND BROKE PREVIOUS STRUCTUAL SUPPORT AND HAS CAME UP TO RETEST, PRICE ACTION IS SHOWING LONG WICKS TO THE UPSIDE WHICH SUGGESTS THE LEVEL HAS NOW BECAME THE RESISTANCE AND WOULD BE A GOOD PLACE TO...
We have a clear 'Triple Top' and have created a neckline entry point, we have also gone below the 200 SMA and we have very clear Regular Bearish Divergence, take your profit in this golden zone which is the 50% and 61.8% Fibonacci retracement
Okay so we have our beloved Gartley pattern here on the EURNZD and this set up looks to be a very good one because I'm expecting a Kiwi strength in the next coming days so that should be the main driving force of this short, will it happen? Let's wait and see