we back again on this pair the bulls are back in action.
After a while in the bearish mode, we can see this pair retracing back to 1.300 levels.
It first need to break a few key zone before reaching the target.
BULLISH PENNANTS PATTERN FORMING.
Price has reached the 61.8% fib retracement to the upside.There's a bit of consolidation before the big move to 1.9000 Psychlogical targets.
very good RRR of 1:7, lets see how it unfolds itself.
LONG TERM SELL with short term BUY Opportunity.
Here we can see GC reached a very strong level of support at 1.720 and the daily candle closing above this area of support.
I am anticipating a short term retracement to previous support now to test as resistance at 1.7350 before a bigger move down to daily trendline.
Good risk to reward. Lets see how it unfolds itself!