I believe the pound is overbought and a hard brexit won't make it stronger.
doube top + divergence in RSI, it could test the bottom of the ascending channel.
It looks to me like EU is retesting a previously broken bullish trendline and could go down from here. In addition if we look at the daily chart today we have a ton of bullish ideas, that, for me, is enough reason to go short LOL. "Do the opposite to what the flock is doing, remember that only 10% of the traders are successful"
We had a big sell off due to fears for the brexit. Now we are in the bottom of the daily channel so a buy with tight SL could work out. Trade with care.
Reasons to go long: -Bottom of the channel in the daily TF -Divergence in 60 and 240 TF -Very oversold
I have posted a long trade of trend continuation but it looks like the trend is about to break, so it is time to reverse the trade when confirmed. Trade with care.
Not much to say. Small SL, high R/R. "Trend is your friend" (Until it isn't)
As long as the upper channel resist this pair is in a descending channel and we could expect a downward move. If the channel is broken this traded will be invalidated. It can be set with tight SL and a good R/R ratio.
The downtrend has been broken we could head north for a while. Good risk/reward ratio
As long as the low line of the channel holds, we could expect a bounce to the top. Then breakout on the top is expected as well since the daily downtrend has been broken and retested. This could be a successfull setup: SL: 1.425 TP1: 1.44 TP2: 1.45 Good luck everyone.
-We are at the bottom of a rising channel in the daily TF. -Price rejected at this are, demand zone? -Bullish divergence -Possible bullish butterfly pattern