GBP is rising back to 1.3000. i can see a possible head and shoulder formation forming on the daily. We could also see a mid month reversal.
Daily head and shoulder formation. 4hr time frame starting to show come rejection. price has moving around the 1.71000 level.
Already missed that perfect entry off the 0.64000 level, nice double top and a bearish engulfing candle. sorry didn't post this earlier. but lets see if we can drop least 50 pips from there.
Wait for a retest of the 109.000 level and look for bearish price action.
Wait for a retest of the 1.32500 level. drop down to lower time frames and look for bullish price action.
Would like to see a mid month reversal, price is resisting at the 1.10000 level which is also our October low. we have had a break retest.
Would like to see price drop and test the 0.63500 level once more before the bulls come in and push the market up.
Price has been rejecting the 0.68500 level multiple times. do favour this to go up. possible buys there now with a 20 pip SL.
Price has broken down the 109.00 level and has retested. short trades are valid from here. all stop losses at 20 pips