GJ should be seeing either one of those two highlighted outcomes on the upcoming week. I had waited for some time to see 144.00 level break and as it happened I caught the move right from the top of 146.30 but experienced my stop loss being hit in profit. Was a great 600 pip short from the highs to the lows of 140.00.
What I am expecting to see is for GBP to gain some momentum now due to the strong 140 level support being hit. Now, we should be seeing price rising up to 141.00 recently broken support and test it as new resistance. If we can break and close above, a test of trendline at 144.00 resistance should be the the most probable case. If price fails to break above and form a new lower high level, a short down to 135.00 is my preferred move.
Lets wait and see how price reacts around the 141.00 level.
What I am expecting to see is for GBP to gain some momentum now due to the strong 140 level support being hit. Now, we should be seeing price rising up to 141.00 recently broken support and test it as new resistance. If we can break and close above, a test of trendline at 144.00 resistance should be the the most probable case. If price fails to break above and form a new lower high level, a short down to 135.00 is my preferred move.
Lets wait and see how price reacts around the 141.00 level.