Preferred direction: BUY
Comment: According to the British pound, buyers continue to fight for the support area at the 1.25000 level, which is the key area at the moment. For the coming week, the buy-priority will remain relevant, but you need to be careful, especially in the middle of the week, when US inflation data will be published.
The likely best option for entering a long position is a trade on a breakdown of the level of 1.25396. This level is a local resistance, and if it is overcome, buyers can count on growth at least to the level of 1.26300 (scenario №1). An alternative option is scenario №2, where exactly the same breakout transaction is expected after testing the area of 1.24500.
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Comment: According to the British pound, buyers continue to fight for the support area at the 1.25000 level, which is the key area at the moment. For the coming week, the buy-priority will remain relevant, but you need to be careful, especially in the middle of the week, when US inflation data will be published.
The likely best option for entering a long position is a trade on a breakdown of the level of 1.25396. This level is a local resistance, and if it is overcome, buyers can count on growth at least to the level of 1.26300 (scenario №1). An alternative option is scenario №2, where exactly the same breakout transaction is expected after testing the area of 1.24500.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for like and share your views!
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