Liquidity point 1.27200 has been cleared and now price will drop to clear the FVG below
On the daily chart the price began its decline after it touched the daily key level. The price has pulled back to the 50% fib level and has formed a bearish flag on the 4h chart. I will take another short right here. Good luck !
Expecting a flat correction on this pair with the C wave starting soon. We are in a longer term uptrend though, so i will be looking for buys if the price gets to the 1.23-1.235x area. Swiss franc looks strong to me for the next couple days so ill be looking to buy CHF in other pairs like Eur/Chf or Chf/Jpy.
sell @ 1.25541 nice daily resistance around X-level as protection
My FX portfolio currently consists of : - 2Long x USDJPY @ 106.8; 2Short x GBPJPY @ 151.2 (dynamic hedge for long UJ); 2Short x GBPUSD @ 1.4570. I will add to my short GBPUSD holdings if i can get a similar price & I may add to short GBPCHF or EURCHF downside if markets make a turn for the worst as IMO CHF denominations are under-priced relatively (as discussed...