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Price is at top of channel. Am watching for a break out or potential short.
Looking for price to potentially bounce off 50% retracement and continue to 1300.00
Price remains below resistance and weekly descending trendline. Expect to retest support at 76.00.
Pound slowly making its way down. If price breaks current resistance we may see a test of the trend line before
it continues towards 1.28750.
Price was rejected at the 1.3350 level during NFP and one may expect it to test support at 1.3150.
Price reached the significant 78.63 level during NFP and may be expected to fall back to TL.
Price below resistance at .7250 with nice bearish candle. If price can break this level it may return to test .7300, otherwise one may look for further downside towards lower weekly TL from current level.
Looking for price to retest .7322 and be rejected.
Price rejected at resistance. Looking to return down.
Will price respect the TL or break through?
Price has returned to test .7320 level. If resistance continues to hold one may expect price to finally turn lower.
Looking for continued break through trendline up to resistance at 95.50.
May test resistance at .7750 before turning down or from current price.
Am waiting to see whether price will break through resistance to test upper TL with a view to shorting from there, or if price will be rejected and to take the short below resistance.
Brief long up to .618 at .7182, then anticipate a short to trend line at .6900 before continuing long.
Strong level of resistance. Bearish candles. Potential bounce and retest of resistance.
The 2 hour chart seems to work for me. Price remains in a clear channel, despite easing announcement.
So let's see how this plays out. Thoughts, comments always appreciated. Thanks.
Just a thought. Interested to see what happens once/if price touches the top trendline - how far it returns down before breaking out of the trendline.