Price has been in a downward channel, I will be netering with a RE if we get a nice 3 touch ending structure. If we dont get that i will enter with a reduced risk entry after we get an impulse up followed by a 15 minute flag.
As expected price is stalling 0.90500 level. I am expecting price to pullback to 0.86700 level because that a level with ton of confluence.
+ 50 daily EMA
+ 50-60% fibbonaci retracement
+ higher low
+retest of previous support of 0.86700 level
Weekly :
- big bearish H&S pattern
- Deceleration
- weekly high test rejecting the 50 ema
Daily:
The price has decelerated at 1.93400 level
Has not been able to break above 200 daily ema
4H:
- price has broken below rising trendline
- forming textbook H&S Pattern
- big bearish MACD divergence
Drawback:
GBP gaining strenght on the back of brexit...