brexit ended off with a big rejection for the pound. prices tried to push lower and they were able to create new all time lows, but this just ended with prices being bought all the way back up into the daily channel. this tells me investors were buying as sterling printed its record low. monthly charts completed an ab=cd
on brexit and ended the pattern with a strong pullback which on the monthly looks like a pinbar
. if this monthly candle closes as a pinbar
then we can expect some strong bull
momentum to kick in in the following months. we also have the ab=cd
i published on the euro-2.65% weekly charts
reasons to long pound?
in a very strong demand zone
(lowest pound has ever been. investor demand zone
) with a pinbar
to top it all off
lets trade with the investors.
any break of the lows of the pinbar
will be enough confirmation for me to tell me bears still got the power