Hello everyone! The British Pound has now hit an extremely important resistance zone at 1.25000. We're currently seeing a reversal starting to form but we need to wait for further weakening of the GBP in order to confirm a true bearish reversal.
So how are we going to do for our upcoming move? Well, we need to look at our current situation. We currently have market reaching a strong Hourly, Daily, and Weekly resistance zone at 1.25000 and it's reversing at that point. We have also completed the Head-and-Shoulder pattern at the 1.25000 resistance point. Therefore, we could see a very strong reversal about to occur. We still need to wait in order to confirm a proper reversal but I would suggest placing a "Sell Stop" at a lower price point to be on the safe side in case this is a false reversal. However, I believe the GBP will DROP! I will keep you all updated as the markets move! Stay alert!
Thank you,
- ALPHALICIOUS
Disclaimer: This is my personal opinion of the markets. I am not responsible for any trades that you take. Please use proper research, analysis, and risk management when trading. Thank you.
So how are we going to do for our upcoming move? Well, we need to look at our current situation. We currently have market reaching a strong Hourly, Daily, and Weekly resistance zone at 1.25000 and it's reversing at that point. We have also completed the Head-and-Shoulder pattern at the 1.25000 resistance point. Therefore, we could see a very strong reversal about to occur. We still need to wait in order to confirm a proper reversal but I would suggest placing a "Sell Stop" at a lower price point to be on the safe side in case this is a false reversal. However, I believe the GBP will DROP! I will keep you all updated as the markets move! Stay alert!
Thank you,
- ALPHALICIOUS
Disclaimer: This is my personal opinion of the markets. I am not responsible for any trades that you take. Please use proper research, analysis, and risk management when trading. Thank you.
Trade closed: target reached