After the bullish movement caused by the brexit hopes couple of weeks ago, the pair got stuck on a level between 139.5 - 140.7. Finally we saw some bearish movement and breakout to the downside and breakout from the first support was confirmed by the re-test. Expectations are for the pair to continue bearish movement because of the UK political chaos, and YEN getting stronger because of the trade deal mess.
Reasons for short:
1.Breakout + re-test.
2. Confirmed breakout of cloud.
3. Broke out of a triangle pattern.
Reasons for short:
1.Breakout + re-test.
2. Confirmed breakout of cloud.
3. Broke out of a triangle pattern.
