GBP - Where to next?
Looks very interesting on a higher time frame, we could decline further , IF we go below 50 EMA daily close below I expect 1.34200 & lower areas to come into action. If we have a pull back more above than 21 EMA area, I expect bulls to get back in control and re-test the areas of 1.36 higher areas near 200 EMA anywhere above that the TL down would be a good target areas. However, for this current moment of time, the bears are firmly in control and I have taken partial profits.
Don't forget the key fundamental data of FOMC, PMI's etc that could impact the majors this week.
Have a great week ahead & take care,
Trade Journal
Disclaimer: Not Financial Advice.
Looks very interesting on a higher time frame, we could decline further , IF we go below 50 EMA daily close below I expect 1.34200 & lower areas to come into action. If we have a pull back more above than 21 EMA area, I expect bulls to get back in control and re-test the areas of 1.36 higher areas near 200 EMA anywhere above that the TL down would be a good target areas. However, for this current moment of time, the bears are firmly in control and I have taken partial profits.
Don't forget the key fundamental data of FOMC, PMI's etc that could impact the majors this week.
Have a great week ahead & take care,
Trade Journal
Disclaimer: Not Financial Advice.