I am a bear on pound because of the Brexit complications and also expecting dollar strength.
Price bounced off MPP, which is the bull profit target. MPP bears target is MS2 and currently at 1.23425 and bounced as well from EMA 55. Stochastic turned from moving to oversold to the upside.
Price on H4 shows to have bounced off WR1 and currently at 1.23425. EMA 21 & 55 just about to cross to indicate bullish move. Stochastic overbought.
Price opened at DM3 and DM3 target is DM1 for bears. Although the EMAs 21 & 55 shows bullish also supported by stochastic oversold position, I will look for a sell high opportunity on this pair. I will continue to look for opportunities to sell on lower time frame with a proper confirmation. Expecting a lower high on this pair. Bollinger indicating volume of traders has decreased.
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