I think most of the market as of now was following the bearish trend and most retail traders would have placed sells at the trend line touch, however, I believe we are seeing a structural shift and a potential u-turn in the market. My bias as of now is bullish.
@FQ07 yeah me too, obviously seen analysis from the D1 chart. Any idea how @AlkalineFX got "PREMIUM" title ? 😂😂😂😂
FQ07
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@Eipannnn, it has hold the support around 1.2050 area n bounce back so the resistance is at around 1. 2400, n there is a gap at 1.2490/80 area, as I said I m not expert but that's what I think, 😊👍
UnknownUnicorn772665
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Unlucky. Should have shorted like "everyone else"
AlkalineFX
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@Charlieab94, Completely agree, must admit when I'm wrong.
AyDevilss
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Nice analysis and Could you check my GU analysis
QQGuo-Shane
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It is reasonable we are trapped, technically it looked like small V patterns and stood on 60 EMA. I supposed to change to long as well. On the foundational terms, re open business don’t mean economy boom, as. Lots of business open with high budget and label cost etc. and won’t get very profitable. So re open just a sign but won’t mean anything. GBP probably will be very weak. Good luck guys
AlkalineFX
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@QGuo-Shane, Nice outlook will bear in mind! Hope your trading week has been good?
aurimaso
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Need to look at daily sticks.... got a clear double top with a touch on resistance line test. Stronger signal on daily to short....
AlkalineFX
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@aurimaso, I agree the trade set up looks great for a sell, my bias still remains bullish but I respect everyone's opinion!
aurimaso
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I would only remain on a bullish bias fundamentally due to the fact the uk is re-opening businesses quicker than the US. Technically looks bearish. So as always it’s up to the trader haha