The pound will receive strong resistance around the red circle:
1. Suppress from the upper track
2. MA 90 of 3Days
3 23.6% of Fib retracement
4. Stoch RSI at overbought
Not matter how far the rebound of pound will go, how strong it will be in the future, we need to be careful with the first retracement in next 2 weeks.
1. Suppress from the upper track
2. MA 90 of 3Days
3 23.6% of Fib retracement
4. Stoch RSI at overbought
Not matter how far the rebound of pound will go, how strong it will be in the future, we need to be careful with the first retracement in next 2 weeks.
Note
Detail
Note
The first up wave lower track is broken, we are in correction right now, it's good for the bull's health, and now we need to watch 3 support area:
1. MA7
2.Support zone
3.Support lower track
And I don't think short is a good idea.
Good luck.
Note
2nd support zone seems strong enough, we will see wave 5 incoming.
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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.