Another look at the pound.
GBP seems to be moving to 8 years average price (which corresponds to 96 months ema).
However, 8 years volume weighted average (could not plot that) is somewhat lower (I marked with pink) at 1.38342.
To reach that price needs to BREAK DECEMBER ROOF Camarilla monthly R4 (key resistance). After that we shoul see a quick push to the 8 yrs average.
To continue bearish price should have dropped from 50 days Tilson MA (did not plot that) / 8 quarters vwma in September but it did not. It broke those, did a vwma retest and is heading higher.
FOR EDUCATIONAL PURPOSES ONLY. THIS IS NOT FOR TRADING. JUST A GENERAL IDEA WHERE PRICE MIGHT BE GOING TO LONGTERM.
GBP seems to be moving to 8 years average price (which corresponds to 96 months ema).
However, 8 years volume weighted average (could not plot that) is somewhat lower (I marked with pink) at 1.38342.
To reach that price needs to BREAK DECEMBER ROOF Camarilla monthly R4 (key resistance). After that we shoul see a quick push to the 8 yrs average.
To continue bearish price should have dropped from 50 days Tilson MA (did not plot that) / 8 quarters vwma in September but it did not. It broke those, did a vwma retest and is heading higher.
FOR EDUCATIONAL PURPOSES ONLY. THIS IS NOT FOR TRADING. JUST A GENERAL IDEA WHERE PRICE MIGHT BE GOING TO LONGTERM.
Trade closed: target reached