this week i'm gonna be in bears team and consider this short move..
i used gann and fibo and of course harmonic patterns for finding some good targets and resistance
set stop loss on 22.282
and i marked 3 targets on chart but my last target is 17.4 and we will see it soon..
please like and share if you are agree with me..
i think etc not going to upward too much this week and we can open a short position for a good and low risk profit...but anything can happen so i consider 2 possible scenario:
1:etc going down to 6.60 from here and soon
2:etc will go down from 7.055 to down
Though the pound is undervalued across the board and screaming for a move higher i still believe small range consolidations and retracements are always possible at these lows. This is not investment advice.
Here's a comprehensive analysis of the GBPUSD pair, which could be worth watching this week. I'll keep the description short and in bullet points:
1) NEWS NARRATIVE
The pound came under selling pressure the previous week after the UK announced there's not much progress in trade talks with the EU. Time is passing by, and trade talks will likely...