The 4H chart clearly shows a 1.5650 resistance level for a period of days now. It appears to want to get there. As buyers are thinning out, only MMs will try to stop out early short positions before making their move unless GBP data is going to be spectacular. I am betting that sellers will dominate this scenario once price reach 1.5650. If I am wrong, then 34 pip cushion will burst, otherwise it is > 3:1 risk reward prize pot.
Thanks for the idea. :) My thoughts are on the short-term range on this analysis and as I am watching PA there is very light buying pressure now as London session is about to begin and may exhaust soon is what I believe. I appreciate your help.
The_Cannalyst
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The_Cannalyst
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thx for sharing...my view is the opposite ;-) i see the possibility of a shs.