one more short
Given enough boost, pound should be able to touch somewhere close to 1.4, it has not had much comfortable correction at all since the past 4 jumps, really like pound's doing...
If it ever hits, I believe 1.4 is another level that's not only just a historical psychological ceiling point, but also proven level of resistance, let's see whether it stands this time.
Entry: 0.618 fib recovery since the peak fall and back up from the bottom which is close at 1.3991
SL: just above 1.4 a few pips, can be safer at 1.405
TP: a conservative level at 1.392
Note: If the US dollar keep being sick weak, pound may well just keep going with it's unlimited mighty green, so be aware. I'm aiming to recover some week loss but considering the sick dollar, it's pretty risk one.
it's Friday, and it's the last day of July, so I'd prefer to think many buyers to do some profit taking and leave, or otherwise...
GL.
If it ever hits, I believe 1.4 is another level that's not only just a historical psychological ceiling point, but also proven level of resistance, let's see whether it stands this time.
Entry: 0.618 fib recovery since the peak fall and back up from the bottom which is close at 1.3991
SL: just above 1.4 a few pips, can be safer at 1.405
TP: a conservative level at 1.392
Note: If the US dollar keep being sick weak, pound may well just keep going with it's unlimited mighty green, so be aware. I'm aiming to recover some week loss but considering the sick dollar, it's pretty risk one.
it's Friday, and it's the last day of July, so I'd prefer to think many buyers to do some profit taking and leave, or otherwise...
GL.
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