Looking at the daily chart, pound has bounced off the daily 55 ma, which signals a possible double bottom. furthermore there is decent angle and seperation between the 21 and 55, however, 5 and 8 ma’s have braided, so will monitor that carefully.

Looking at the h4 chart, price has also bounced off the 55 ma, as well as resistance found between the 78.6 and 61.8 fib level, which is also located at wm3, and stochastics are to the downside.

Further, on lower frames, price has dropped from the dr2 area, and is currently making lower lows, therefore I will look to sell on a fib level lower high.

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