am longing on this after extensively reviewing this pair, technically and sentimentally. if your long this with me keep your SL at 100 and just forget about this pair and let it go. gyazo.com thats current market positions, take a look.
We have a head and shoulder and a broken trend line we a retest done, selling it.
I was expecting another down movement before heading up, because we had a long consolidation, but my classic trend line has broken with a pull back. I will be buying when the market opens and I will place my SL at 1.04010 and let it go. I think this is a pretty high probability trade. we should make up for our losses we had in the past few trades.
Shorting after a breakout and pull-back of the broken trend line. TP is green line.
here is my take on this pair on 3 different time frames : Monthly : We hit a major trend line dating back to 2002. Considering this pair has been a bull since 2012. what we see here is basically a pull back that took place from 1/7/15 till today. if by any chance we break the trend line, then this pair shall be officially bearish and may go back to 2012 low''s....
Selling with only a few pips SL, I think its time for this bad boy to go down. great risk ratio !
we have a channel in daily which we have reached the bottom and we also have a trend line which also has been violated. expecting upward movement at least till 1.4000 but I will keep my position open till price action says otherwise. Will update the idea whenever deemed necessary.
details on chart. can go much lower then my target, set your TP accordingly.
we have 2 time frames here for mid term and long term analysis. Daily - We have a almost complete head and shoulder pattern, if things go according to the head and shoulder pattern, we should expect a nice downfall from this point and on - RSI divergence - MACD divergence 4hrs - Broken trend line with a retest already done - RSI finally heading down after...
broken trend line and rested trend line too, shorting with a small SL.
longing this pair, its a clear break out + good gbp news.
am getting obsessed with this pair. what we have here is a broken trend line on daily time frame. the trendline was tested in a trade we took earlier in this pair : since it failed to break the line, am expecting a down movement from now on till 147. considering brexit is on its way, I think this only makes my statement stronger.
GBP pairs are very volatile due to Brexit, so be careful. great ratio, best of luck !