THIS PARE WAS LOOKING TO REVERSE ON THE 1HR CHART YESTERDAY BEFORE THE NEWS THAT THE PRIME MINISTER OF THE UK WAS ELECTED... PUSHING THE POUND IN A MASSIVE UPWARD DIRECTION!
I THINK THE TREND WILL RETRACT, CORRECT AND HEAD BACK TO FORMING A DOWN TREND BEFORE THE WEEKEND, FINISHING THE WEEK WHERE WE STARTED BEFORE THE BULISH PUSH.
ALSO I CAN SEE THIS IS OVERBOUGHT AND WE HAVENT EVEN TESTED THE 1.94882 HIGH WE HAD YESTERDAY AFTER THE NEWS WAS RELEASED.
I WILL SHORT THIS TRADE AND TAKE PROFIT AT 1.92000,
LOTS OF NEWS ON THIS TODAY IT COULD GO EITHER WAY.
=]
I THINK THE TREND WILL RETRACT, CORRECT AND HEAD BACK TO FORMING A DOWN TREND BEFORE THE WEEKEND, FINISHING THE WEEK WHERE WE STARTED BEFORE THE BULISH PUSH.
ALSO I CAN SEE THIS IS OVERBOUGHT AND WE HAVENT EVEN TESTED THE 1.94882 HIGH WE HAD YESTERDAY AFTER THE NEWS WAS RELEASED.
I WILL SHORT THIS TRADE AND TAKE PROFIT AT 1.92000,
LOTS OF NEWS ON THIS TODAY IT COULD GO EITHER WAY.
=]