A bit late with the Post
i believe this is a high probability trade especially with the weak pound being displayed across the board.
All time frames signal further downwards momentum with the weekly and monthly showing bearish sentiment.
Upcoming elections also suggest the weakening of the pound as high levels of uncertainty are being displayed investors May see the pound as a risky bet.
As you can see on the chart price was in an Uptrend which is displayed by the HH and HL.
price failed to make a new HH and broke through the the previous HL
Price was also trading in an upward zone which once again is displayed by the two trend lines acting as support and resistance.
price broke out of that zone twice to the downwards before making it final move
i believe this is a high probability trade especially with the weak pound being displayed across the board.
All time frames signal further downwards momentum with the weekly and monthly showing bearish sentiment.
Upcoming elections also suggest the weakening of the pound as high levels of uncertainty are being displayed investors May see the pound as a risky bet.
As you can see on the chart price was in an Uptrend which is displayed by the HH and HL.
price failed to make a new HH and broke through the the previous HL
Price was also trading in an upward zone which once again is displayed by the two trend lines acting as support and resistance.
price broke out of that zone twice to the downwards before making it final move