Buy and sell areas in chart. I will see how price reacts to those areas and trade accordingly.
It looks like this pair is losing its bullish steam. It's near a strong daily resistance zone, maybe it will retrace today before breaking the daily resistance zone?
Correct, we need to wait to see where the resistance zone will be established within the pair. I don’t suggest a sell. This will be Bullish yet without “the steam” as seen in yesterday’s session. The Brexit risks along with the talk of negative rates are slowing things down. Hence, slowing this down still means it’s ultimately still a Bull market.
Good trading. (As I look into my crystal ball).
@paulajin101, You’re welcome. Be strong and ride this out. It was a rather fast sloped retracement from yesterday’s uptrend...it did establish the line of resistance as I stated in my original comment. I placed my buy so now it’s just a waiting game. The pound is under so much pressure yet wants to strengthen (bullish). Keep an eye out for the trade agreement with the EU...when that happens this pair will jump! (Don’t miss the opportunity). In the meantime we wait.
Great success to you tonight. Slow night with no “steam.”
***Inflation just sunk below 1% so the sterling is under more pressure. I remain on my long. Quantitative easing will correct value.
paulajin101
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@JoeSedona, Alright! I'm on a look out for the deal ever since you mentioned it on the earlier charts. And surely I won't missed out on it's bull run.. THanks for the tip!
Good trading. (As I look into my crystal ball).