Greetings to all!
Today I will share with you some my thoughts about the pound.
Recently, I published an idea where I assumed the growth of the pound. I stick to still with it.
I will look at different time-frames for a broad picture.
Let's take a look at the daily chart.
Here we see that the price cannot just be breaked through the support - bull candle setup with shadows and spikes has formed from it.
Then let's look at 4h.
Here we see that the price could breakout the local level of 50% Fibo
So my first idea is long.
But, I also have bearish point of view, because behavior dynamics from support don’t look like price will bounced it off. I will try to explain my thoughts.
On the 1H chart, we could see that the price has formed two bear pinbars from the resistance + lower maxiums + rebound from the trend line.
That’s why think that if price don’t breakout 1.298 it will definitely collapse.
I even give this idea more chances, because it is down-trend.
This fall is also confirmed by Brexit’s uncertainty.
Therefore, I advise you to be careful, control the risk and be flexible in your scenarios.
Today I will share with you some my thoughts about the pound.
Recently, I published an idea where I assumed the growth of the pound. I stick to still with it.
I will look at different time-frames for a broad picture.
Let's take a look at the daily chart.
Then let's look at 4h.
So my first idea is long.
But, I also have bearish point of view, because behavior dynamics from support don’t look like price will bounced it off. I will try to explain my thoughts.
That’s why think that if price don’t breakout 1.298 it will definitely collapse.
I even give this idea more chances, because it is down-trend.
This fall is also confirmed by Brexit’s uncertainty.
Therefore, I advise you to be careful, control the risk and be flexible in your scenarios.