For almost a month we had a breakout forming. For now price is holding at the top of the breakout zone. If buyers are willing to step in here we might see a bigger bullish move since there really is not much standing in the way in form of resistance all the way up to 1.81000.
Things to keep in mind though:
1. Be careful with GBP crosses today due to interest rate decision.
2. Even though this is a breakout formation mid-term, long-term we are still in a correction after the strong Brexit-sell off. If this corrective structure hold, we will most likely see another attack on 1.70 and 1.67.
Things to keep in mind though:
1. Be careful with GBP crosses today due to interest rate decision.
2. Even though this is a breakout formation mid-term, long-term we are still in a correction after the strong Brexit-sell off. If this corrective structure hold, we will most likely see another attack on 1.70 and 1.67.
Trade active
Trade closed manually
Closed the trade manyally for +1R since I expected the GBP interest rate being lowered. Since this became the reality, my second option mentioned above is more likely now.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.