About time for a turn?
This pair is approaching a key support zone.
A possible long trade could happen, those that caught the short could starts to secure their profits.
wait for a nice green candle to form deeper into the zone.
Did you follow our analysis 3 days back? we are up +120 pips now,
The BULL run is here to stay for now and we can go to 0.752x level easily first.
I am standing only with BULL for now.
Price retrace back to the trench from the previous trade idea on the 8/5/17 which let us gain a 250 pips.
Now it is back to the resistance, I am still on the short side unless 1.6 zone breaks clearly.
we could possible re-visit 1.565 again
Price action is still bearish, however, I am slight bullish for this pair.
82 is a support zone and I will be looking out for long opportunity when price re-visited back to that zone.
A possible target area would be at the top resistance as shown in the chart.
Possible low risk entry trade here.
Price is moving towards the higher boundary of the resistance zone
DO NOT SHORT IT YET ! GBPXXX is currently very bullish at the moment.
It is best to wait for a bearish candle in the 4 hourly at least before commiting a trade.
A lot of people miss the UP train, as they were waiting for Down train.
Sometimes, listen what the chart is telling you.
We still have another stop hunt leg to go UP till it meets serious resistant.