After 5 surges to the upside and failure to brake 1.2503 resistance gbp retesting 1.2419 support .On the daily chart conversion and base crossed to the downside also on 4h chart .I think as previous ideas that gbp will be in bears territory soon .
After gbp failed to brake major res and us regained some strength we saw that long drop.Next support is @ 1.2419 aprox( you can see it in my previous charts).
But we still have Draghi in the afternoon (eastern time) .
Monday cable made a long green candle for no reason .The dollar is still very strong. Brexit talk is on the table again.On 4h chart we are in bear ground and under bearish cloud.So we could be revisiting previous structure low.We have Autumn forecast and some news today that could change things for a while.( The ...
Yellen a good boost for $.Indicators pointing to the downside .Future cloud bearish.Once we are under the cloud we are in bears territories.Next resistance is @ 1.2419 aprox (4h chart the red H line in the pic ). #tradesafe
Ahead of uk data gbp still making new lows .Future cloud is bearish. On 4h chart conversion and base are preparing for a cross to the downside. On daily chart we are still under a bearish cloud and under the conversion line.
So until now we are bearish ...we will wait for the news to enter #tradesafe
we are above the cloud all the indicators are pointing up 4H chart.The red line is our old trend line before the previous big drop.We broke the line but the candle didn't close yet and we still have news.We are still long for now.#tradesafe
On 4h chart the base and conversion line crossed to the upside.The bearish cloud in ending.Keep an eye on today's news........We also have a good support on the daily chart the candle is above the 122079 conversion Line
We broke the trend line on 4h chart yesterday.We are still under a bearish cloud. Conversion and base crossed indicating a down move.So we could be retesting the trend line before we go long. Yellen is speaking also today,so i think this could be the turning point.Until then #tradesafe
the sterling was very week lately.we are under the cloud.All the indicators are pointing down.But we have a strong resistance ahead @ 1.67856 .it was tested once and rebounded.I'm still short but we must expect a consolidation on that level.......#tradesafe