Although still on bearish trend but I am counting on reversal from strong feb point. Will go for long from this point.
BXY (British Pound Currency Index) 1W & 1D: The British Pound Currency Index has been trending to the upside since the beginning of the year. The trend is strong, moving in a classic Higher-High and Higher-Low structure. The BXY is respecting an ascending trendline from the weekly perspective, and we are currently seeing a minor pullback towards it. We expect...
BXY is facing bearish pressure from our first resistance where we might be seeing a further drop to our first support level. Stochastic is also approaching our first resistance where we might be seeing a further drop in price.
BXY is approaching our first support where we might see a corresponding bounce in price to our first resistance level.
BXY is approaching our first resistance where we might see a corresponding drop in price to our first support level at 6.974. Stochastic is also seeing bearish pressure from its resistance line. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BXY is approaching our first resistance where we might see a corresponding drop in price to our first support level. Stochastic is approaching resistance level as well.
BXY is approaching our first resistance at 7.0216 (horizontal overlap resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 6.9631 (61.8% Fibonacci retracement, horizontal swing low support). Stochastic is also approaching resistance where we might see a...
BXY is approaching our first resistance at 7.0216 (horizontal overlap resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 6.9631 (61.8% Fibonacci retracement, horizontal swing low support). Stochastic is also approaching resistance where we might see a...