The FTSE 100 has been channeling well for the past week. After 3 consecutive rebounds i am now looking for my 4th which will be a SHORT. We have an ma crossover and the daily close within the downward resistance.
The price has rebounded off of short term support and is forming a fairly straight channel. Potential for a LONG position 86.65 and heading towards 87.3 with a TP 1 at the previous (closing) high of 87.03
We had a nice breakout of consolidation on the EURGBP and now it is looking to do the same again. Consolidation on the 30 minute candlesticks and i am now waiting for a breakout down or up. Volatility is looking like its reducing which indicates a potential SHORT position.