After disappointing news for the pound last week, this week the downside momentum continues.
Weekly; Last week candle closed as bearish engulfing rejecting from the weekly key level 1.4250 and close exactly on the 1.4000 key level.
Moving onto daily timeframe: The M.A is crossing over to the downside
4H: Trendline has been broken since last Friday and the bearish momentum continue as we head into Monday. The 1.4000 key level has been broken and closed below confirming the downside direction.
Stop loss: 1.4035
Weekly; Last week candle closed as bearish engulfing rejecting from the weekly key level 1.4250 and close exactly on the 1.4000 key level.
Moving onto daily timeframe: The M.A is crossing over to the downside
4H: Trendline has been broken since last Friday and the bearish momentum continue as we head into Monday. The 1.4000 key level has been broken and closed below confirming the downside direction.
Stop loss: 1.4035
Comment:
I have moved my SL to 1.4010