Um well I'm monitoring cable for a retest of resistance at the 50% Fibonacci level to take a short position on it at that area upon confirmation. Simple structure trade. Its also the Daily 50 Moving Average resistance. If price breaks the current resistance I will be looking for shorting opportunities around the 618 Fibonacci level, which also coincides with the Daily 100 Moving average, which has held as resistance since price crossed below the moving average last year.
Cheers =)
Do note that there is event risk today for the pound. Always check your economic calendars, if you don't have an economic calendar then all you need to do is go on google and search "Economic Calendar" =)
Cheers =)
Do note that there is event risk today for the pound. Always check your economic calendars, if you don't have an economic calendar then all you need to do is go on google and search "Economic Calendar" =)
