Mellorad

Mellorad

As we head close to the end of the triangle, without speculating too much, I would be expecting a bullish rally with potential for the 107 area. However if we do experience the bears putting their foot down, we may end up heading a longgggg way down. I am far more bullish with this chart, but we will have to wait for the decision area.

Mellorad

Due to the length of the fall so far, along with the MACD/KST crossing, the pound to dollar is about to drop down to previous pivot point/resistance level. This is going to be 100% if the price drops past its previous stair step level of 53745! Be ready to have a tight stop and open once it has passed that possible bounce point. Please provide your opinion on this trade.