Price is showing signs of lower highs. Looks like a downtrend is now starting.
Price has come back to support zone but like there is still some buying power so I'm waiting for price to retest the previous high. If price shows rejection I'll be going short.
I could be wrong though, price could just tank. But I think New York session will buy and bring price up to...
Just hit take profit at previous support level. As mentioned in previous analysis, price is showing lots of rejection around the 133.580 mark.
Looking to go short again if price breaks support. Targeting the previous low.
Price has been bouncing between support and resistance... Waiting for price breakout.
I've got a buy stop ready if price breaks out of resistance and will be going long to previous resistance zone.
Reasons for trade:
- £ is showing strong bullish signs with RSI indicator
- 4 hr time frame is above ichimoku cloud
- Up trend took a big hit but is coming back...