LEONES
Short

British pound outlook - still bright?

CME:B61!   British Pound Futures
767 17 6
Weekly chart - this is where we are with the pound. Bull trap or bull run?
Channel broken to the upside - next monday is important to confirm
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Would it be better to short the BU pound or the EU euro?
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LEONES PRO QuantitativeExhaustion
Pound looks weaker - this is the weekly Euro FX / British pound - channel showing still upside space
snapshot
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Nickmail LEONES
maybe dark cloud formation maybe not
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looks to be harmonic bear W pattern of some kind
(X dec A march) top of channel nice spot to go short
also double top on daily with bearish divergence on the macd
nothing wrong with trading weekly charts
stops must be above or below recent swing high or low
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check monthly - we still have a 1.6486 as a possible top (6330 minimal weekly Zigzag)
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Nickmail Nickmail
major target is 1.675-1.705
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LEONES PRO Nickmail
Needs to take out the high 1.6250 to confirm continuation pattern. If it trades below the M it is a reversal
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I suppose you think it's a bull trap.
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LEONES PRO QuantitativeExhaustion
Yes I think so
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