POUND Consolidation might be nearing an END!
Higher high at 1.42300 area could become a realistic target if the monthly candle closes above 1.4000 psychological resistance. Once this happens we can take this pair LONG to target 1.42300 higher high depending on Risk to Reward ratio.
But before this, the descending channel must break convincingly. for this to happen we need strong impulse move which would make the monthly candle close above 1.4000 thus breaking the channel in process.
This impulse move/ breakout could happen this month and likely make the monthly candle close above 1.4000. Therefore ideally if conditions are right we can aim to take this pair LONG next month to target 1.42300.
THIS JUST REPRESENTS MY ANALYSIS ON THIS PAIR AND ITS NOT A TRADE SIGNAL. I HAVE MANY PAIRS THAT I MONITOR AND ALL OF MY TRADES ARE ON W, D , 4H TIMEFRAME (SWING TRADES). ITS NOT POSSIBLE TO POST ALL OF MY ANALYSIS HERE, HOWEVER I POST TRADE SIGNALS WHEN THE CRITERIA IS MET ON THE FX PAIRS I MONITOR. FOLLOW & LIKE TO RECEIVE FREE FX SWING TRADE SIGNALS CHEERS.
But before this, the descending channel must break convincingly. for this to happen we need strong impulse move which would make the monthly candle close above 1.4000 thus breaking the channel in process.
This impulse move/ breakout could happen this month and likely make the monthly candle close above 1.4000. Therefore ideally if conditions are right we can aim to take this pair LONG next month to target 1.42300.
THIS JUST REPRESENTS MY ANALYSIS ON THIS PAIR AND ITS NOT A TRADE SIGNAL. I HAVE MANY PAIRS THAT I MONITOR AND ALL OF MY TRADES ARE ON W, D , 4H TIMEFRAME (SWING TRADES). ITS NOT POSSIBLE TO POST ALL OF MY ANALYSIS HERE, HOWEVER I POST TRADE SIGNALS WHEN THE CRITERIA IS MET ON THE FX PAIRS I MONITOR. FOLLOW & LIKE TO RECEIVE FREE FX SWING TRADE SIGNALS CHEERS.
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