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A perfect ascending triangle has happened last week which lead to a 80 pips profit and is this going to happen once again this week?
Although last bullish trendline is broken but currently there might be another ascending triangle forming and if 1.3007 does break, the next 2 significant levels are 1.306 and 1.3115 but 1.3115 are above H4 200MA so suggested TP level is 1.306
but there are also chances that the bear will continue if the 1.30070 level are tough enough and lead another sell off of pound
Uncertainty of Sterling is only building up as there seems to be another Coronavirus wave coming and also Brexit are making sterling pairs become difficult to analysis as no one really know what will actually happen after Brexit.
And if the bullish trendline does break again, there are 3 significant levels which can be used as support :
1.279
1.265
1.2475
PERSONAL PREFERENCE ONLY
DO NOT FOLLOW OR COPY
IF YOU DID FOLLOW PLEASE DO IT UNDER PROPER RISK MANAGEMENT
I DO NOT AND WILL NOT TAKE ANY RESPONSIBILITIES
DO NOT FOLLOW OR COPY
IF YOU DID FOLLOW PLEASE DO IT UNDER PROPER RISK MANAGEMENT
I DO NOT AND WILL NOT TAKE ANY RESPONSIBILITIES
A perfect ascending triangle has happened last week which lead to a 80 pips profit and is this going to happen once again this week?
Although last bullish trendline is broken but currently there might be another ascending triangle forming and if 1.3007 does break, the next 2 significant levels are 1.306 and 1.3115 but 1.3115 are above H4 200MA so suggested TP level is 1.306
but there are also chances that the bear will continue if the 1.30070 level are tough enough and lead another sell off of pound
Uncertainty of Sterling is only building up as there seems to be another Coronavirus wave coming and also Brexit are making sterling pairs become difficult to analysis as no one really know what will actually happen after Brexit.
And if the bullish trendline does break again, there are 3 significant levels which can be used as support :
1.279
1.265
1.2475
PERSONAL PREFERENCE ONLY
DO NOT FOLLOW OR COPY
IF YOU DID FOLLOW PLEASE DO IT UNDER PROPER RISK MANAGEMENT
I DO NOT AND WILL NOT TAKE ANY RESPONSIBILITIES