Trade Alert
Potentially building up for a pop.
If the 82.90 breaks and we get a close above that level on the 240-minute chart, then we could be on to something here, where we could aim for the 83.85 zone, as the next potential area of resistance.
Alternatively, if this reverses back down and moves below the tentative upside support line, then we can leave...
Trade Alert.
This pair is currently forming something from textbook, that is called a flag. Now, theoretically, we could see a move to the upside later on, once it breaks the flag's upper side. Certainly, for us to consider this potential move to the upside, we need to see the break first.
Alternatively, GBPRUB could really extend the flag, by dragging itself...
Price has reached a support and resistance zone, I expect price to keep falling down to the 68% retracement or the support zone then i expect the price to go back up.
Weekly chart is telling that there could be a potential move to the middle of the Bollinger Band.
If it closes above 71 level, then aiming for 73. If 73 get's broken, then the next level to watch is 76.
Stochastics RSI is also indicating an oversold position.
The Sterling has begun to strengthen and the ruble appears to be a reasonable pairing to illustrate the pound's strength.
The RSI has broken out; and the AO is turning up.
On a break of the falling wedge a long position will be entered, with stops under the support at 75.
TP 1: 92
TP 2: 97
TP 3: 103
Happy Trading!
