DislikedBeljevina, do u think bull is over? do u see this upmove is a rally and we're going to resume long term down trend for a lower low on daily or this NFP down move merely a retracement for further up move ? Would like to see your feedbackIgnored
If I'm not mistaken, the new UK gov't is due out this coming week with budgetary impacting verbiage; if they follow the lead of other EU countries of "the previous gov't cooked/lied/hid the books", it's a slam dunk for new sterling lows (just look what smallish Hungary did there.) Plus, given the E. Union relationship, what happens in the EU, happens in and to UK, except, they are no Germany IMO. Couple my historical view that what happens to the euro is followed by similar movement to sterling, further sterling lows are inevitable, if not in June, then August, but definitely September IMO.
TA wise, the current daily is hugely bearish - really depends on how it will close from here, and if there's a bounce/wick it will complicate things - no wick is more bearishness to me and retraces seem to be negligible/poor today. Coupled with the last 2 reachings wicks and failing, 340 pips down today, I'd say 130.5 will be visited early next week, and if broken, we're approaching and probably breaking 126.x. Only a lack of bad news will gets us to wave back up to 139.2, which has been broken with previous rides up, but, I think will be a major roadblock this time (and it's also the confluence on the upper and LT lower trend on my chart - it's only got a few days to get there though IMO).