Presented is a 1 hr sell analysis.
Fundamentals point towards DXY over strength against the pound despite yesterdays gains. We call this bullish movement cash movement. A cash movement is what goes up must come down. We saw this across several pairs today most notably pairs against the Yen. So much gain taken away by a single movement.
MACD/SIGNAL are initialing a cross for continuation. RSI mist breach 50.00 keep this bearish movement consistent to support zones so that playout may be the best entry point if you are currently not in a sell.
TP 1 at first support of 1.38500. A breach through will retest 1.38100 for our take profit 2.
Please comment with thoughts and ideas. thank you.
Fundamentals point towards DXY over strength against the pound despite yesterdays gains. We call this bullish movement cash movement. A cash movement is what goes up must come down. We saw this across several pairs today most notably pairs against the Yen. So much gain taken away by a single movement.
MACD/SIGNAL are initialing a cross for continuation. RSI mist breach 50.00 keep this bearish movement consistent to support zones so that playout may be the best entry point if you are currently not in a sell.
TP 1 at first support of 1.38500. A breach through will retest 1.38100 for our take profit 2.
Please comment with thoughts and ideas. thank you.