SHORT on 30 Mins
Updated
Sterling is suppressed by the down-trend line and broke out the key support at 1.3225.That should confirm completion of rebound from 1.2775. At once it breaks out the support at 1.3050, further decline should be seen to 50% retracement of 1.2775 to 1.3350 at 1.3060 next. On the upside, though, break of 1.3225 will turn focus back to 1.3285 resistance instead.
The target is 1.3060.
Turning point: 1.3225.
Under 1.3225, bearish , target price is set at 1.3130, then 1.3060.
Above 1.3225, bullish , target price is 1.3255,then 1.3285.
Even if we can't rule out the possibility of continuous adjustment, its time should be limited.
Prior Strategy:
The target is 1.3060.
Turning point: 1.3225.
Under 1.3225, bearish , target price is set at 1.3130, then 1.3060.
Above 1.3225, bullish , target price is 1.3255,then 1.3285.
Even if we can't rule out the possibility of continuous adjustment, its time should be limited.
Prior Strategy:
Comment
TP1 reached.Comment
Target Reached.Disclaimer
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