The British pound edged above $1.12 recouping some losses from the previous session The Bank of England’s emergency bond-buying scheme, which was used to cover pension funds caught up in the market chaos sparked by the tax cuts announced last month, I think by Wed or Thursdays we will see price starting to fallin we are monitoring GBPUSD for a selling opportunity around 1.14500 and 1.16500 zone, once we will receive any bearish confirmation the trade will be executed!
free to ask any question in comments
free to ask any question in comments
Trade active:
the market act same as we analyzed it lets waits for the rest of next moves
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Comment:
Just An Update The Price has touched 1.14 level then it went back to 1.12500 for a retracement if its hold above the Orange lines then we can see 1.155 Maybe 1.1675 Before it goes down again to demand area lets see how the market will act
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We got false breakout or maybe just stoploss hunt and then the marker went back on the track is it gonna make triple top and drop or it will go fill the OB around 1.15900 and 1.17000
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the market acting similar of what I have drawn but lets see if the price will hold 1.14000 then we might see 1.15900 or maybe 1.17000
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Or price can drop from here to down
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Same of what I have said yesterday if the price hold above 1.14000 then we can see 1.15900 and we did I think from those area price will drop down specially 1.16500
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The price as reached the supply level so I will wait for the price to break the market structure then we will enter the trade on the retest
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just an update I think we gonna see huge drop if the fed increase the interest rate by 100 point this Wed
Trade active:
Lets go we have opened order sell on 1.16500 as we said before
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waterfall !!