As I mentioned in last weeks post, we are currently testing that 1.29-1.30 support. This area is going to be extremely crucial in determining what comes next but I am expecting a retest of the 1.305 ish
price mark before a continuation of the downtrend. The MACD bearish
Divergence is now currently confirmed signaling the just now start of that downward trend. The break of the trend line
indicated will see us looking to retest the 1.28 zone which may or may not hold and failure to do so will find us headed back down to the 1.26-1.24 range. With HEAVY GBP and BREXIT news next week, I expect a crazy amount of volatility
so we want to be very careful trading GBP pairs.
Remember, patience is KEY! GL
My Ideas are mine and mine alone and are only to provide my perspective of the current market situation. Do not take my posts as trading decisions for entries or exit. Trading the FOREX market is very risky and indulge in it at your own risks!