possible to retest resistance. put stop above it.
Trend line is respected. one more bounce to complete a flag or buy the breakout.
GBP 's near future still not so bright due to Brexit.
the major big trend is still bearish..but looks like it's going for the E wave.
Head and shoulder formation. look to go deeper if neckline broken.
watch out for 0.618 fib retracement. but with SL 1215 if see any bounce signal in smaller TF
I will get into buy if I see a flag formation. this pair worth keep an eye on.
things explained in the chart. Price has been squeezed within a small range now we see a breakout. Worth take a small risk to go for long.
check the higher TF it's likely to complete inverted cup and handle. and when after it retest the bottom. I'm looking forward to see a new bullish cycle.
buy around 1226 when waves completed and see price bounce in smaller TF. Target is fib ext confluence zone 1250
resistance and harmonic pattern printed. target will be the leg's 0.38 - 0.5 retracement
or lower level. anyhow. we are looking the buy side. book profits at 1225 level then let the price action plays out
Gold is pulling back. sell it to the confluence support. (TL & 0.5 fib retrace)
trade the breakout or when price touches either confluence zones.
Scalping setup. small risk worth taking