Cable has made a nice strong reaction from the historically strong psychological level of 1.2000 but that doesn't mean price cant retest this zone again before we see a bigger corrective move. On the 1D TF Friday's candle closed with a potential wick to fill to the downside, on the LTF price has broke out of the Asian session range and is testing the 0.618 fib taken from the previous swing high to swing low in confluence with the descending trendline resistance - we would like to see price make a small bullish induction above the trendline and above the current High of the day to create the liquidity below in order for price to move in to - waiting for entry confirmations in at the 0.718 fib on the LTF's
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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.