GBP/USD, GBP/EUR, GBP/JPY, EUR/USD, USD/CNY, DXY
UK OIL & GAS PLC ORD 0.01P, POWERHOUSE ENERGY GROUP PLC ORD 0.5P, VAST RESOURCES PLC ORD 0.1P, FRONTERA RESOURCES CORPORATION ORD SHS USD0.00004 (DI), WISHBONE GOLD PLC ORD 0.1P (DI), ALBA MINERAL RESOURCES PLC ORD 0.1P
FTSE 100, DAX Index, Euro Stoxx 50, S&P 500, Nasdaq Composite, Nikkei 225
Gold, Silver, Crude Oil, Brent Oil, Natural Gas, Bitcoin
BTC/USD, ETH/USD, BCH/USD, XRP/USD, LTC/USD, ETC/USD
US 10Y, Euro Bund, Germany 10Y, Japan 10Y Yield, UK 10Y, India 10Y
Gold, Brent Oil, Crude Oil, CFDs on Natural Gas, Palladium, Silver
This pair have now been down trending for nearly 2 months so momentum and profit-taking are moving in.There are 2 supports levels it needs to break to continue its down trend.
Personally, I'm not waiting for the break consolidation to go long as I want to be in the trade early but if it does go aginst me I fairly confident I can still make good profits and cover ...
Ranging pair on the daily and fib taken also from daily chart.
Let's see how it pulls back keeping an eye on the news
Moving strongly to wave three and the fib 61.8. I will now wait for a move from wave 4 before moving my stop to just below wave 2.
I will keep close eye on the break of wave 5 as i have shown yesterday.
Fundermently nothing in the calendar to scare both currencies this week.
Although it is in a bearish trend on 4 hourly and the hourly it's hitting a 61.8 retracement now and i think it will need a pull back now.
If this does manage to break Target 1 i will leave until Target 2 then will reposition at 115 approx heading all the back to 117/118