On both 4H and Daily we are in overbought territory, especially the daily TF. On the 4H TF we also seem to have formed a strong divergence that might start come into play next week if we break the lower of the .
Price is consolidating around 2.03 ready to do something. Maybe a break lower towards 2 and 1.98?
Last two daily candles showed a nice signal and of today closes as a it could be the third candle that indicates that the momentum is gone.
Order triggered at 2.03
STP = 2.0540
TP1 = 2.00
TP2 = 1.98
The price is showing nice downward pressure indicating a desire to move lower. A close of the day at these levels and preferably sub 1.98 opens up the path to 1.96 and 1.94 which are levels easily obtainable before the VERY important referendum within two weeks.
TP1 as mentioned at 1.96 and if we have a clean break like on the 22nd of February I may keep it till 1.94. If we bounce off of 1.96 I'll close my position. Of course the price might hit my lowered TP at B/E + 30 pips as well. Time will tell.
Holding over the weekend means extra interest that you have to earn back and H4 is overbought on both RSI and stoch which indicates a potential correction so now is the perfect time to close and enjoy a stress free weekend.