Price has formed a double top on the weekly and daily timeframe at a matching point with the weekly 61% fib (pink one) and monthly resitence (blue line) forming our matching point with a strong monthly PRZ and now price is retesting the 38% fib continuing the downtrend after the bullsih trendline break
as the weekly chart is still in an uptrend things are kind of looky tricky for this pair especially before DONALD trump takes office friday im thinking a stab below to a support level or to the previous channel that was broken careful of HIGH IMPACT news RELEASE AT 430AM on the GBP we wil see how things go
Price is respecting the current downtrend making LH and LL also getti nrejection on the t daily trendline ,what gave me enough confirmation was the big inverted hammer made on our matching point with the weekly 61% ,daily 50% fib andprz zone with the downtrend line so now ima sell it with a 1:1 risk reward
GBP/USD has just broken the daily trend line and is firmly bearish as shown on the daily and weekly TF. Will wait for confirmation on Monday before entering short on this trade. Lower bollinger band has just been crossed so expect this bearish movement to continue into opening trading hours next week.
EURJPY has been in an overall bearish downtrend over the past few years... consistently making lower lows. Though price action has been choppy making violent swings, the market is holding its bearish bias quite nicely. For this reason we are only interested in taking a short position on this pair. We are viewing this slight bounce on the hourly to be a corrective ...