#Could we see a fall in Pound vs Yen?#
The pound has been very strong recently. At current prices I believe that the buyers are getting exhausted. We've seen 2-3 failed breakout attempts at the 70-80% fib levels. This seems to be a wonderful short opportunity for the bears to take control. There seems to be a 4h support level at 154.0. I believe we can reach this level in the next few sessions.
###Reward Ratio###
For this idea I'm expecting a 50-150 pip Reward with my stop loss being set above current highs.
The pound has been very strong recently. At current prices I believe that the buyers are getting exhausted. We've seen 2-3 failed breakout attempts at the 70-80% fib levels. This seems to be a wonderful short opportunity for the bears to take control. There seems to be a 4h support level at 154.0. I believe we can reach this level in the next few sessions.
###Reward Ratio###
For this idea I'm expecting a 50-150 pip Reward with my stop loss being set above current highs.
Note
Target 1 hit! headed to to Target 2 !!!
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Related publications
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.