I expect pound to rise a bit further up before a correction happens.
Daily chart is going above 45 which is a good sign of buying strength, 4H 2H 1H has gone down a bit from overbought level that gives some room for price to go further up.
NOTE: I do not see any confirmation for the direction yet so have only put a small lot size for this trade (which has been activated as right now).
SL can be very tight at 1.38735 and if passes, my analysis actually fails, so I may close earlier if it goes that far.
Speaking of direction, DXY and dollar pairs in general would almost all need a bit of correction this week.
Daily chart is going above 45 which is a good sign of buying strength, 4H 2H 1H has gone down a bit from overbought level that gives some room for price to go further up.
NOTE: I do not see any confirmation for the direction yet so have only put a small lot size for this trade (which has been activated as right now).
SL can be very tight at 1.38735 and if passes, my analysis actually fails, so I may close earlier if it goes that far.
Speaking of direction, DXY and dollar pairs in general would almost all need a bit of correction this week.
