Yesterday I started a shorting campaign on the pair as we are at the top of a long range that has been lasting for around 600 days. I expect this position to be shaken out as we are in the turbulent upper part of the channel. My bias is currently down, but should price break away from the red zone, it would indicate much higher prices and would change the direction of my campaign.
I traced various supports that I will be looking at to take profits as we reach them for the first time as well as shorting points on clean breaks.
I traced various supports that I will be looking at to take profits as we reach them for the first time as well as shorting points on clean breaks.