GBP/HUF in currently trading in a rising wedge and has also formed a double top pattern. Expecting price to lose support and start the bearish trend.
Thanks to the large positive swap, we would be in profit even if the price goes in the opposite direction, that's why this high stop loss
if this divergence dose not play out, there is no hope and all technical analysis is useless and i will jump off a bridge.
triple top, triple divergence. exotic pair though so dose what it wants.
Evening All. GBPHUF - Analysing this pair, I see price action has respected the lower trend line well in the past. Coupled this with a bullish divergence favourable volume and a break of the low time frame trend line, I will be longing GBPHUF with a potential target between .5 and .618 retracement. I back this level with historic S/R of PA where price action may...
ENTRY: 387.00 TP: 383.00 TP2: 379.00 TP3: 375.00 SL: 392.00 Chart time frame - 1D Time for reaching TP - 1-3D Follow, Like, Share or Comment Thanks on supporting! All best!
Politic f..d up GBP again, looks like it's moving up.. hopefully breaks above 380.70.