Analyzing the behavior of this pair over time, it would not be strange that after this succession of 2 weeks bullish, it returns to the bearish path for at least 2 weeks. It is my thinking basically because the demand for dollars is going to decelerate due to the constant inflation that it is having and that will continue in the medium term. A shark pattern is...
If the price does not break the resistance indicated between 1.9704 and 1.9811, the consolidation of the resistance zone with the double top is expected. In turn, this would push the price to the first support at 1.9557 and the second to 1.9497. On the contrary, if the resistance breaks, we will be facing a bull market supported by the new daily support.
TP A 0.9478
In the coming days, a price growth in search of resistance is to be expected. There is a possibility of a temporary pullback to the OB starting at 0.9278 as I have not yet touched this point where there are a lot of buyers. Please follow me if you liked this idea, thank you.
In previous days we have seen how this pair failed to cross the resistance zone, it immediately began a bearish movement that stopped at 1.1990. Now I expect a good bullish move at least until the first resistance at 1.2101.
We can see the continuation of the ascending channel since September 2020, now the pair is at the upper limit and faces a resistance that is there since January and February 2020. In case of not breaking this resistance, a retracement is expected to 142,600 in first term, and then to 141,500. On the contrary, if it breaks the resistance, it would go up to 147,500.
We can see how this pair is reaching a very important resistance zone, mainly caused by the weakness of the dollar and not the strength of the euro. I expect a major drop from this area to its first stop at 1.2070.
In the coming, we will see a delay to temporary support at 1.825. If it pierces that support, it will continue to drop to the most important temporary support at 1.770. In case of not piercing the support of 1.825, it will rise to at least 1.851 where its resistance is.
After the announcements from the Bank of England, we could see a meteoric rise of all GBP pairs, in this case, I think it grew to the maximum where it could. Now I expect a continuation of this bearish channel.
The harmonic pattern was almost fully formed, which is reaching the support formed in December 2019, I would expect a good bullish candle as an entry point after a bounce in the support zone. If you liked this idea, please like or comment, thanks.
FIRST TP 8.8026
SECOND TP 8.9740
We can see this pair in the resistance zone, it would probably go up a bit more to finish forming a bearish harmonic pattern. In the recent past, it has bounced in this area, although Brexit negotiations got back on track, a much greater strength in the pound could not be expected in the immediate future. If you liked this idea, please comment or like it. Thanks.
After bouncing off the resistance 2 times in September and October this pair seems to be going to new lows, it is now in the support zone, if it breaks it, we can enter with a sell, in the case of a rebound, wait for a candle of confirmation to enter with a purchase in the first term until 1.3151.
In the last few months, this pair bounced off the surprise zone 3 times. After the last bounce I almost formed a harmonic bat pattern. I expect a little more decline and then a buy to the first resistance at 10.7746. If you liked this idea, please comment or like it, thanks