GBP been proven to be manipulated in price since RSI shows that bulls are loosing momentum but price stills going up.
Everything points to a possible reversal formation. But wait for proper confirmation, we are at the end of the week. Beside and not least we are on NFP week, good USD data might be the excuse needed to drop GBP into a lower level.
Be cautious and...
Description needed on graph. Look for Liquidity Pools and For past behavior on those levels.
Price is extended, Needs correction! So wait for it and look for a nice long entry. Im optimist about Brexit deal going smooth from now forward.
Its time for GBP rebuild! www.youtube.com
Ideia for movement of oil for next weeks.
With a pretty bearish scenario, bearish moves on oil are slowing down and forming big pinbars on the same Support area. Im expecting oil to drop a little bit more until reach a big monthly Support where it can find strength (aka Enough sell orders trapped) for the real move of pushing oil to Higher levels.
Lets keep track...
WTI seems to be consolidating on a level 3 and already showing some stop hunt wicksaws... Also divergent rsi and showing to respect Resistance level around 60.
Looking for shorts this week seems like a nice trade opportunity. Keep watch. And remember only place your trades after high/low of day, once movement closed under/above 13EMA for extra confirmation...
EUR/GBP is finally consolidating on a huge bullish rally. Market is on consolidation. I expect that as soon as book or order is settled EUR/GBP will finally reverse for 2/3 weeks. Meanwhile we surf this little fall. But keep your eyes close into this pair. Some Setups seem really promising.