I see underlying strength in sterling recently. In looking at gbpchf, gbpnzd, and gbpaud I see an inverse H&S pattern forming leading me to believe a major move in the pound will take place. Couple that with eurgbp showing a nice H&S on the 1hr chart and underlying weakness in the dollar, I feel confident about this long.
Entry: 1.26366 (.766 retracement of AB), I also plan to add longs on the (.618, .5, and .382 retracements of AB on the way up)
TP: 1.38
Sl: 1.27
Entry: 1.26366 (.766 retracement of AB), I also plan to add longs on the (.618, .5, and .382 retracements of AB on the way up)
TP: 1.38
Sl: 1.27
Comment:
entry 1.29366*
Correlation Source: myfxbook.com & coincorrelation.com
(Disclosure: Correlations due tend to change over time)
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Charts are Not Investment Advice.
Charts are my own views & opinions.
(Disclosure: Correlations due tend to change over time)
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Charts are Not Investment Advice.
Charts are my own views & opinions.