If we take a look at the nice bearish trend that we had in place we can see this was clearly broken.
price has now strongly pushed down and tested this level. As we look into next week we will of course go into the smaller timeframes 4h and 1h and look for some better confluences/entry points to look at getting into a long but this is just an idea of what I think we can expect.
Although having said that, the current news we are hearing from UK Gov and the potential to another lockdown could see the pound getting weaker and this dropping more. Time will tell!
price has now strongly pushed down and tested this level. As we look into next week we will of course go into the smaller timeframes 4h and 1h and look for some better confluences/entry points to look at getting into a long but this is just an idea of what I think we can expect.
Although having said that, the current news we are hearing from UK Gov and the potential to another lockdown could see the pound getting weaker and this dropping more. Time will tell!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.