Will be looking to short here, as you can see we have been in a range for most of this month. We have respected the resistance line repeatedly.
As we can see we have also had a cross of emas and a macd cross
I see a potential break of the previously respected trend line, on top of this we have just had a MACD cross, the price has also rejected the resistance line 2 or 3 times I will be looking to catch the reversal of this pair.
short opportunity here. We have seen this pair respect the trend line multiple times, as well as this we've seen a MACD crossover as well as a 20 50 ema cross, we are also just about to break below the 200 ema
I am initially looking to short this pair once we retest the resistance line, however, the pound strength is good today hence why we see the nice bullish candle if that momentum continues we could see this pair break out of this consolidation channel and continue to the upside
This pair is in a nice uptrend now, looking at the last movement if I had taken the marked trade it would have been a 600 pip movement. Given that this has not yet reached the previous resistance line I am aiming to catch roughly the same movement again before we hit the resistance and reverse the trend. Please feel free to comment your thoughts on this.