TECHNICAL:
Reason 1:
-Possible descending wedge pattern forming indicating possible bullish reversal? Comments welcome on wether this actually is a descending wedge or not, my pattern trading needs some more work.
Reason 2:
-61.8 fib level coincides with bottom of descending wedge pattern, confluence?
Reason 3:
-61.8 fib and bottom of ascending wedge pattern is at similar previous level of support seen end of june 2016 and August 2017
FUNDAMENTALS:
PERSONAL THOUGHTS:
-May come further down to the 61.8 fib level coinciding with the previous level of support and descending wedge pattern. I beleive it may then break out to the upside as the daily chart is drastically oversold and the geopolitical tensions e.g north korea, China/EU/India trade war, may start to negatively affect the USD soon therefore giving GBP a boost
**Appreciate thoughts and comments, constructive criticism only please!
Reason 1:
-Possible descending wedge pattern forming indicating possible bullish reversal? Comments welcome on wether this actually is a descending wedge or not, my pattern trading needs some more work.
Reason 2:
-61.8 fib level coincides with bottom of descending wedge pattern, confluence?
Reason 3:
-61.8 fib and bottom of ascending wedge pattern is at similar previous level of support seen end of june 2016 and August 2017
FUNDAMENTALS:
PERSONAL THOUGHTS:
-May come further down to the 61.8 fib level coinciding with the previous level of support and descending wedge pattern. I beleive it may then break out to the upside as the daily chart is drastically oversold and the geopolitical tensions e.g north korea, China/EU/India trade war, may start to negatively affect the USD soon therefore giving GBP a boost
**Appreciate thoughts and comments, constructive criticism only please!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.