Potential heading downward
Weekly it didn't manage to create either higher high or higher low, which shows weak strength in GBP in the past week. On daily it was supported by some strong up movement however did not manage to stay within the newly formed mini-uptrend channel after rising back in on Friday.
I expect it to retrace back up to 1.38503 or max 1.38578 then continue it's down trend. (Fib based calc)
Entry: 1.38479 or 1.3857
SL: above 1.38650; 1.3896 can be considered very safe but invalidates the analysis
TP: 1.3810
Pips: 20 - 50 pips will be enough make me happy :)
Expected: 1 day
I expect it to retrace back up to 1.38503 or max 1.38578 then continue it's down trend. (Fib based calc)
Entry: 1.38479 or 1.3857
SL: above 1.38650; 1.3896 can be considered very safe but invalidates the analysis
TP: 1.3810
Pips: 20 - 50 pips will be enough make me happy :)
Expected: 1 day
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