After a strong daily close after touching the 1.36 support area price rushed all the way to 1.3750 before retracing to 1.3660 area again. This retracement is close to ideal as it touched the fibo 0.618 several times and did not go below. The retracement trendline is now broken and I believe pound will continue its move towards 1.38 area somewhere between the -0.27 and -0.618 Fibonacci targets. Can be entered immediately or after a possible retest of the bearish trendline , for a conservative sl it can be put under 1.36 and for an aggressive sl below the fibo 0.618 support area . Trade at your own risk.
Zlecenie zamknięto ręcznie
Komentarz:
Closed the trade on 1.3675 in a small loss because of the big selling pressure but price still could reverse if doesnt break 1.36 support area. I will be eyeing new setups before entering another trade.