GBPUSD TF1H mixed consensus in big picture may be down first
30/01/2020, GMT+7
GBPUSD TF1H (update from 29/01/2020)
Indicator EMA22,55,100 RSI14, MACD12 26 9
Yesterday (29/01/2020) price still side way in Ai-A zone, because a lot of tension in the market as we await the Bank of England and its interest rate decision on Thursday . there is a very mixed consensus as to whether or not the Bank of England will have to loosen monetary policy. After all, start the chaos of the Brexit situation overhanging the market.
In TF Day candle still red print in up trend line but look like lose momentum and seem triangle pattern forming a continuation pattern known as a Symmetrical Triangle, with the prior uptrend suggesting an upside breakout may be in the cards. However, fundamentally speaking, the upcoming Bank of England rate decision may catalyze a downside breakout .
1. TF1 H trend is down, price try to break up ema 22 red line.and this morning price reject at ema55 green line with doji candle, and macd move up from low point but still below zero line,
1.1 if price can pass A zone at 1.298 I think price will go down to B zone at1.290-1.292
1.2 if price respect support line at Azone 1.298 with nice candle I think price will test Bi zone at 1.312 or 1.317
**For now I think open short first at1.302 Sl 1.304 Tp1.29 if price can not pass 1.2980 I will close order.
***For buy side I think price must show me how momentum is strong at Ai zone at 1.340 after rebound from A zone 1.2980 ,then I think follow buy for target 1.317
GBPUSD TF1H (update from 29/01/2020)
Indicator EMA22,55,100 RSI14, MACD12 26 9
Yesterday (29/01/2020) price still side way in Ai-A zone, because a lot of tension in the market as we await the Bank of England and its interest rate decision on Thursday . there is a very mixed consensus as to whether or not the Bank of England will have to loosen monetary policy. After all, start the chaos of the Brexit situation overhanging the market.
In TF Day candle still red print in up trend line but look like lose momentum and seem triangle pattern forming a continuation pattern known as a Symmetrical Triangle, with the prior uptrend suggesting an upside breakout may be in the cards. However, fundamentally speaking, the upcoming Bank of England rate decision may catalyze a downside breakout .
1. TF1 H trend is down, price try to break up ema 22 red line.and this morning price reject at ema55 green line with doji candle, and macd move up from low point but still below zero line,
1.1 if price can pass A zone at 1.298 I think price will go down to B zone at1.290-1.292
1.2 if price respect support line at Azone 1.298 with nice candle I think price will test Bi zone at 1.312 or 1.317
**For now I think open short first at1.302 Sl 1.304 Tp1.29 if price can not pass 1.2980 I will close order.
***For buy side I think price must show me how momentum is strong at Ai zone at 1.340 after rebound from A zone 1.2980 ,then I think follow buy for target 1.317
Comment:
price bounce from A zone senario 1.2 is correct.