With Europe not handling Covid as well as expected I see further downside momentum. High confluence area (Fib, trend line, KL, SMA's) I also believe with this new stimulus being passed and US residents seeing money enter accounts as early as this weekend risk on flows will continue.
We are currently forming a descending triangle... however with the current bull market situation I believe a break out is imminent. A break to these recent highs would give us a quick 40% gain, however the fundamentals and low market cap of this coin make me believe we could see much higher. I am waiting for a break and retest into the highlighted area.
If we can see the pound reach 141.200 I will definitely be looking for a long position. 50 Fib level, 3rd trend-line touch clean B&R and also an SMA acting as support. The fundamentals behind this trade are - Gov. Bailey does not want to cut interest rates (strong for pound), risk on mood weakening the yen.
NZD weakness should continue after the banks 'dovish' statement last weekend. Technicals all line up; Giving me four confluences (area of resistance.)
Downtrend just starting to form with lower lows being created.
Will look to enter around 69.753
Price has been up trending for some time now; Making newer highs. M15/H1 both show a clear break and retest of a horizontal level. I am not going to enter yet, however will see how it acts overnight and very likely be taking a long position. I would be going 1:1, with multiple lot sizes and higher take profits so I can maximise the potential of this setup.
Nice downtrend with price making new lows. A clear RSI divergence has now been formed on the H1,H30 with the price seeing support from a key 4H level. I am long on GPB/NZD
Price - 1.95893
SL - 1.95194
TP - 1.97115
TP 2 - 1.97501