At a very important decision making zone right now sitting on previous resistance now strong daily support.. Price is in a uptrend making higher highs & lows, I will keep my eye closely on this for CAD news in the morning!
CPI for gbp in about 6 hours for now, im looking for a break of resistance for potential longs up to the 1.34200-1.34500 area.. Price may finally get a breakout of this range it has been moving for some time within. More confirmation needed before executing this trade!
Pair may be making higher highs/higher lows.
1st take profit higher high
Rest of the target prices are fractal highs
Wait for swing low to be broken
Take profit is a previous resistance level now support
Price made a strong move & broke above its downtrend line, now looking for entry on the retest of the 38.2%/50% fibonacci level for buy opportunities. If you take a closer look the retest could form a nice inverse H&S pattern, showing great confirmation! : )
Watch for a break & retest of the downtrend line for potential longs, price closed with a strong bullish engulfing candle, & bounce off a strong weekly reversal zone, price could now be ready to change trend direction will be watching closely..