Hello Traders,
Price came very close but if we can actually reach 1.4094 then we have a Bat pattern which completes at the 88.6% fibonacci retracement level.
This pattern completes in an zone of support.
Furthermore, this pattern serves as a continuation of the recent uptrend.
Target 1: 1.4354
Target 2: 1.4510
Note that that we have CPI (inflation) figures coming out in the UK. We have a forecast of 0.4%. Typically if the actual figure is greater than the forecast we could see an appreciation in GBP. Since it may lead to the Bank of England raising interest rates.
Feel free to follow, like, comment and share
Price came very close but if we can actually reach 1.4094 then we have a Bat pattern which completes at the 88.6% fibonacci retracement level.
This pattern completes in an zone of support.
Furthermore, this pattern serves as a continuation of the recent uptrend.
Target 1: 1.4354
Target 2: 1.4510
Note that that we have CPI (inflation) figures coming out in the UK. We have a forecast of 0.4%. Typically if the actual figure is greater than the forecast we could see an appreciation in GBP. Since it may lead to the Bank of England raising interest rates.
Feel free to follow, like, comment and share
Comment:
Price seems to have respected the previous support level. Lets see if we can head towards targets.
Comment:
Target 1 hit
Trade closed: target reached:
Target 2 reached. Follow for more !