Hi Traders!
We are trading near May 23rd 2022's high of around 1.26632, hence why we have been struggling to get any momentum. The market is currently undecided as to where to go from here.
Due to the market being at the highest point for almost 12 months, there is bound to be some resistance at this level.
We also had an inverse head & shoulders pattern forming over this time, so this could also be a sign of a reversal to the very long term bearish trend. Fundamental news will also have a key part to play as to where we go from here with the BoE Interest Rate Decision and BoE MPC Meeting Minutes coming out later today.
Please do not forget to like, comment and follow.
We appreciate your support.
BluetonaFX
We are trading near May 23rd 2022's high of around 1.26632, hence why we have been struggling to get any momentum. The market is currently undecided as to where to go from here.
Due to the market being at the highest point for almost 12 months, there is bound to be some resistance at this level.
We also had an inverse head & shoulders pattern forming over this time, so this could also be a sign of a reversal to the very long term bearish trend. Fundamental news will also have a key part to play as to where we go from here with the BoE Interest Rate Decision and BoE MPC Meeting Minutes coming out later today.
Please do not forget to like, comment and follow.
We appreciate your support.
BluetonaFX