All the GBP-crosses actually show the same pattern, more or less. Possible overextension on the higher time frames, combined with clearly increasing volatility on the lower time frames and a possible change in order flow. On this pair I am looking to go long if price makes it back down to the short term resistance zone around 1.6718-1.6740. Primary target is 1.6790 and in extension 1.7040.
Trade closed: target reached:
First target level reached.