Wave analysis shows that we could be nearing the end of wave A. Very good support of 61.8% at the key 7000 level. Great opportunity for a long there as GBP sells off on the potential of Parliament being suspended in September-October.
Boris trying to get the government out of the way so that they can not interfere with his Brexit plans.
Also a downtrend line from August 12, respected and confirmed. If it break we could see it going into wave B from there to retest broken level around 7400.
Indicators going back close to oversold, adding more probability for a potential bounce.
Good Luck!
Boris trying to get the government out of the way so that they can not interfere with his Brexit plans.
Also a downtrend line from August 12, respected and confirmed. If it break we could see it going into wave B from there to retest broken level around 7400.
Indicators going back close to oversold, adding more probability for a potential bounce.
Good Luck!
Note
Trade active
Line broken on morning positive sentiment. Could add on the retest if missed early entry.
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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.