We are looking at a trend change in British pound so pay close attention to events ahead. A close above 12674 will be bullish and a close below 12200 will warn of possible decline.
A risk to see complete monetary reform as early as 2018 exists, the long term risk adjusted in real terms for inflation also remains ...
MARKET ANALYSIS: The pair is now trading near the resistance zone, near after a retest if possible we can expect huge downfall to the next possible support level. Only if the resistance zone holds on. So lets wait and check what the market does after opening. Cheers!
We are longing this pair based on :
- Broken trendline.
- On major and last support.
- Broken minor trendline within our major trendline.
- At the bottom of the channel.
- Broken trendline in RSI Divergence.
I closed 2 short positions and I still have 1 left. When price reaches this area, it's time to make a decision to buy or sell more.
Follow your trading and money management rules please.
Share your thoughts, ideas and feel free to ask questions.