1οΈβ£ Price above Point of control-Volume profile 2οΈβ£ Bounce from lower trendline 3οΈβ£ Broad weakness of USD, Positive brexit talks 4οΈβ£ 138.00 Dynamic support and resistance 5οΈβ£Bounce from 134.00 Key psychological level 6οΈβ£ 135.00 will Acted as strong support 7οΈβ£ Technical support - Bull 8οΈβ£141.500 will acted as key reversal-bearish 9οΈβ£ July high-Immediate resistance-Alternative bearish entry π Possible swing target-145.00 psychological level #οΈβ£ Overall bullish trend-Within converging triangle pattern
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π Technical bias-H4-Bullish
Price is around 50,100,200 Exponential moving average 100,200 Exponential moving average will act as support-Bull Relative strength index - Reached 60- Still it has some room for the bull MACD -Turned green and well above signal line, oscillators pointing upward Stochastic - Reached 75- overbought condition short term fall back expected Ichimoku cloud -cloud is still green-Price is above the cloud-Middle line support Bollinger band- Price reached around the upper band-Short term bearish correction towards middle band
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Key reversal area's
136.000 psychological level 142.600 August month high 139.730 July month high 136.050 50% Fibonacci retracement level 140.00 Major psychological level 136.400 Possible entry- Bull 141.500 Trendline resistance/Alternative bearish entry
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Bullish entry #poundr #gbpjpy
Entry price - 136.400
Take profit 01 - 138.400 (180 PIPS) Take profit 02 - 141.500 (475 PIPS) Take profit 03 - 145.000 (800 PIPS)