Anyone considering selling 1.30 on the retest?
Güncellendi
In recent trading, we saw the GBP/USD cross below the large psychological band 1.30 and come within touching distance of connecting with the H4 mid-level support at 1.2950. Right now, however, the H4 candles look poised to retest 1.30 as resistance. There are several features about this number that deserves mention. Fusing closely with this number is July’s opening level at 1.3003 and a H4 broken Quasimodo line at 1.3007. Also of particular interest is the recent break below the daily support area marked at 1.3058-1.2979, and weekly price seen trading from supply coming in at 1.3120-1.2957.
Our suggestions: If you’re thinking of selling from the 1.30 neighborhood today, stops can be placed around the 1.3015ish range, above a small M30 supply (1.3012-1.3003) that is positioned closely around the above noted H4 resistances. Should the trade come to fruition, the initial area of concern would be 1.2950, which if achieved would already provide over three times one’s risk.
Data points to consider: No high-impacting news events scheduled on the docket today.
Our suggestions: If you’re thinking of selling from the 1.30 neighborhood today, stops can be placed around the 1.3015ish range, above a small M30 supply (1.3012-1.3003) that is positioned closely around the above noted H4 resistances. Should the trade come to fruition, the initial area of concern would be 1.2950, which if achieved would already provide over three times one’s risk.
Data points to consider: No high-impacting news events scheduled on the docket today.
Not
Also guys, on the H1, there's an AB=CD bearish completion converging with the 1.30 level alongside a channel resistance...
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