As we all know, GBP has been super weak thanks to the Brexit situation.
To be honest I am NOT in tune with the developments or Pound sentiment.
But I have been watching this fib series and we are at an important zone.
Pound traders know that after an extended drop it can rocket back for a retrace.
I have no idea if that will happen now, but sure looks like a good place to bounce.
Early targets will be the purple fib lines above, and I will update as price moves.
Long entry would be conditional on a Bounce first (duh).
Timing might be good as UK markets are about to open.
I cant imagine London selling it down much further now.
Note:
I have not been paying attention to FX new lately, only the charts.
I have not been trading the Pound much recently, mostly observing.
I am not a Pound bull or bear, but bulls should be salivating about now.
To be honest I am NOT in tune with the developments or Pound sentiment.
But I have been watching this fib series and we are at an important zone.
Pound traders know that after an extended drop it can rocket back for a retrace.
I have no idea if that will happen now, but sure looks like a good place to bounce.
Early targets will be the purple fib lines above, and I will update as price moves.
Long entry would be conditional on a Bounce first (duh).
Timing might be good as UK markets are about to open.
I cant imagine London selling it down much further now.
Note:
I have not been paying attention to FX new lately, only the charts.
I have not been trading the Pound much recently, mostly observing.
I am not a Pound bull or bear, but bulls should be salivating about now.
Note
We lost that support, but Pinged exactly on the next fib down .
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
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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.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
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.