We can see a strong descending channel in play. I believe we will see a break into the lower descending channel to retest .87000 which plays a strong double zero for this pair.
The UK’s sentiment with breaking from EUR seems to be more positive than most thought. It seems EUR will be suffering more from a no deal Brexit. With deadlines looming I think GBP will grow a bit stronger before losing strength.
My technical indicators all call for continuation. My super trend is on a strong sell. It is not visible due to the trend line visual interference with my candle wicks. RSI would be at a reasonable oversold area with a retest of .87000. MACD and Signal on hourly charts are all flowing u dear the zero line with the 4 hr making the most recent cross.
We are in a tricky trading time with off sentiment and worldly events. Anything can force the market into reverse directions and volatility. Never overestimate the force of fundamentals.
The UK’s sentiment with breaking from EUR seems to be more positive than most thought. It seems EUR will be suffering more from a no deal Brexit. With deadlines looming I think GBP will grow a bit stronger before losing strength.
My technical indicators all call for continuation. My super trend is on a strong sell. It is not visible due to the trend line visual interference with my candle wicks. RSI would be at a reasonable oversold area with a retest of .87000. MACD and Signal on hourly charts are all flowing u dear the zero line with the 4 hr making the most recent cross.
We are in a tricky trading time with off sentiment and worldly events. Anything can force the market into reverse directions and volatility. Never overestimate the force of fundamentals.
Trade active:
TP at .89150 and placed a buy. I will watch for direction with MACD and signal crossing up on 0 line on 1 hr chart.