The British pound (B6U) is in a clear bull trend with consistent frequency of patterns. Price has retraced during the last three weeks and has NOW reached the hot spot. Lower // line and 20EMA are giving support. The final target is 1.7500 in Sept 2014, then Scottish referendum could reverse the trend or even push the pound higher! I see this trade related to the...
I don't normally trade British Pound because I find it tricky most of the times but what I see here (B6U) is a clear bull trend with consistent frequency of patterns. The recent flag which have formed between the 20MA and the bull median line gives a good entry point and risk/reward ration. The final target will be in 1.7500 in Sept 2014. Then Scottish referendum...
The Cable has finally moved out of a 3year long channel and recently crossed 1.6250 resistance. The trend is up and we should target 1.6600 first and 1.6900 by the end of the year. The current bull flag could extend for few days more and offers the opportunity to enter long with a high probability trade.
