Just like GbpAud and GbpJpy, Price break strong resistance and now its consolidating on a flat channel, price might spike down to hunt stop losses and also trap sellers before it follow GbpAud
The pair is comming off a rejection on the Lower High trend line of the 1M Descending Triangle (RSI = 60.943, MACD = 0.510, Highs/Lows = 0.000). Based on the previous Lower High made and the RSI it traded, we are expecting a stronger decline towards the previous low. Our sell Target Zone is 6.87000 - 7.00000. ** If you like our free content follow our profile...
Simple but effective set,here we can see how price created a 3rd touch to the descending TL and also how it lined up with the weekly 61% leavign two weekly and mult iday shadows giving us a possible short opportunity Detailed signal in my telegram channel
GBPTRY Price Actions, Supply Demand Zones
More than this based on TK fundamentals
Parity broke a small triangle and aiming new bottoms. 6.85 and 6.70 supports will be important in the case of drastic decline. Otherwise, we will focus on MA resistance at 7.10.
Parity reached the previous highs and struggling to continue. 7.20 - 7.25 area will be important for the continuation of upward price movement. If we can't see closing above that zone price might test previous lows. 6.95 and 6.90 supports will be closely watched in this scenario.
NOTE: EXPERIMENTAL CHART ANALYSIS - "Fibonacci circle magnetism web" Created using unorthodox methods of overlaying fib circles to create a 'webbed magnetism grid' (hidden for clarity) & incorporating knowledge of 'occult' symbolism. Horizontal lines denote 'orbital pivot points'. Thick black lines - predicted avg trend lines based on analysis. Thin black...
Over this year expecting a possible strength shift in GBP. The TRY took a massive hit in the last COUP causing a huge spike in the GBPTRY exchange rate. The long term political instability is likely to continue as it's not the first time this has happened. Exchange rate likely to reach levels seens during that time.
with election coming at the end of March i saw the Turkish gaining strength against the GBP. You can comment and share your own idea with me.