- setup is , will be until price stays above Kijun and Senkou B. However price got too far above Kijun Sen.
- Heikin-Ashi last week already signalled loss of momentum. This week we had a massive follow through. Price dips below Tenkan, which has not happened so far in 2016! This is a big difference compared to first week of March. Price also hits SAR .
- setup changed to neutral: Kumo shades price, weak Tenkan/Kijun cross and price is below Kijun.
- Price reached second support at spot Kumo and 100WMA. Kumo is thick below, and should it be penetrated next week, I doubt price will drop through immediately.
- Heikin-Ashi is firm , with haDelta below zero line.
- EWO is just turning .
I think any spike to Tenkan and Kijun ard 0,7900 is a zone where we have to look for high probability sell setups!
In case it collapses down to 0,77 or below, then we'll have to wait for a spike to 0,78+ to sell. Anyhow, it is important to sell spikes, as the downside given by weekly chart can be limited ard 0,75+, especially as Brexit vote date is getting closer.
Honestly I was so much focused on GBPUSD (which is also improving ) that I completely forgot to check EURGBP .
I hope market gives a chance for an entry next week.