Pretty simple chartwork
Price is over bearing
Price is respecting the descending trendline
Had a 4h rejection @ 0.70900
Target 1: 0.70000
Target 2: 0.69400
These are previous daily levels price may visit before any big moves :)
Have a good trading week!!!
Hello Traders,
It’s no doubt that the GBP has been on the upper edge for the better part of last year. Well, in my view, it might continue with its trajectory especially if there is an interest rate hike in the future. However, when we take a purely technical view, we expect GBP to lose ground and correct in the coming days.
A top down approach can provide a...
Hello Traders,
So, today we check GBPCHF pair and from my view, it looks like there are more downsides than upsides from a technical point of view. While last week was GBP bearish as the candlestick shows, what is of interest is the way that GBP closed. As we can see, not only was there an over-extension to the upside but that inverted hammer is the seal of bears....
Hello Traders,
If anything, I really think it is the best time to buy some AUD, earn some positive swaps and hold this for a long time. Why? Well, we can take a top down approach and consider some technical formation first from the weekly chart. First, notice that since last year GBP has been charting higher and in this pair, it is a 1000 pips away from recovering...
Place a sell stop for GBPJPY at 151.50 with stop losses at 152.50 and aim for 148.50 in the short term. I'm net bullish JPY and selling GBP given the technical developments in the daily and 4hr charts
