So another similar set up here on another GBP!
So a very similar trade to our last one which was posted earlier: (What goes up must come down) & (Lets try again).
So what we can see here, the British pound has spiked throughout all currency pairs today which is the 04/02/21.
The main cause to this i believe is 'BOE Rapid U.K Rebound Following Johnson's vaccine push' headline news.
But as we can see here the price hasn't yet pushed up as far as our resistance zone . Now if price carries on to be bullish and continues to push upwards with momentum and break through our resistance zone then we will more than likely hit Stop loss. (Worse case scenario)
But from analysing the chart i believe that we could potentially see bearish momentum and see price drop as far as 143.300
im going to keep a close eye on this as im currently in a few other trades at the moment and if i decide to take this one then i will update this post as of when! KEEP YOUR EYES PEALED GUYS! we're going to make big moves before the end of this week!
So a very similar trade to our last one which was posted earlier: (What goes up must come down) & (Lets try again).
So what we can see here, the British pound has spiked throughout all currency pairs today which is the 04/02/21.
The main cause to this i believe is 'BOE Rapid U.K Rebound Following Johnson's vaccine push' headline news.
But as we can see here the price hasn't yet pushed up as far as our resistance zone . Now if price carries on to be bullish and continues to push upwards with momentum and break through our resistance zone then we will more than likely hit Stop loss. (Worse case scenario)
But from analysing the chart i believe that we could potentially see bearish momentum and see price drop as far as 143.300
im going to keep a close eye on this as im currently in a few other trades at the moment and if i decide to take this one then i will update this post as of when! KEEP YOUR EYES PEALED GUYS! we're going to make big moves before the end of this week!