GBP/USD - 1.6696
Most recent candlesticks pattern : N/A
Trend : Up
Tenkan-Sen level : 1.6688
Kijun-Sen level :1.6699
Ichimoku cloud top :1.6734
Ichimoku cloud bottom :1.6733
New strategy :
Hold long entered at 1.6655, Target: 1.6760, Stop: 1.6660
Position: - Long at 1.6655
Target: - 1.6760
Stop:- 1.6660
Failure to extend yesterday's rebound from 1.6655 and the subsequent retreat suggest further consolidation would be seen but bullishness remains for another bounce to said resistance, but a sustained break of yesterday's high of 1.6742 is needed to signal pullback from 1.6823 has ended, bring further gain to 1.6800, then retest of 1.6823. A breach of this resistance would extend medium term upmove from 1.4814 (2013 low) to 1.6850-60 but overbought condition should prevent sharp move beyond previous resistance at 1.6878.
In view of this, we are holding on to our long position entered at 1.6655. Only break of Friday's low of 1.6645 would abort and signal a temporary top is formed instead, risk correction of recent upmove to 1.6620-25 (50% Fibonacci retracement of 1.6426-1.6823) and later 1.6600.
Most recent candlesticks pattern : N/A
Trend : Up
Tenkan-Sen level : 1.6688
Kijun-Sen level :1.6699
Ichimoku cloud top :1.6734
Ichimoku cloud bottom :1.6733
New strategy :
Hold long entered at 1.6655, Target: 1.6760, Stop: 1.6660
Position: - Long at 1.6655
Target: - 1.6760
Stop:- 1.6660
Failure to extend yesterday's rebound from 1.6655 and the subsequent retreat suggest further consolidation would be seen but bullishness remains for another bounce to said resistance, but a sustained break of yesterday's high of 1.6742 is needed to signal pullback from 1.6823 has ended, bring further gain to 1.6800, then retest of 1.6823. A breach of this resistance would extend medium term upmove from 1.4814 (2013 low) to 1.6850-60 but overbought condition should prevent sharp move beyond previous resistance at 1.6878.
In view of this, we are holding on to our long position entered at 1.6655. Only break of Friday's low of 1.6645 would abort and signal a temporary top is formed instead, risk correction of recent upmove to 1.6620-25 (50% Fibonacci retracement of 1.6426-1.6823) and later 1.6600.
No comments:
Post a Comment