Hey everyone going a bit cavalier on this one as the gbpusd has run into my area of support and the bulls seem to be holding for the time being a little move to the upside will see me joining a buy to around 1.25000
Im looking to take the Gbp / Usd long towards 1.26000+ area as sellers have showed indecision around the 1.23900 pivot support i will place on 8hr chart at 2pm close if price hasn't been broken at 1.24541
Beware of the level that the the Aud Chf has made it to today this level has seen 2 major drops from break of this price.
My trade decision is short based on it being a test of recent resistance and there is lots of indecision on smaller time frames.
I now believe the eurusd bearish bias to be seriously over sold ,
The buyers look like that are starting to gain a control over further falling movements.
A bullish engulifing candle is being created on the 1hr lets see how the candle closes