Evening
Few thoughts
-NFP tomorrow so, I'll prefer to look at it with the popcorn in one hand
GU 1H
Technical structure: Flat sided triangle - Bearish bias - in formation
- Requires the break of 1.68775 has a measured target of 1.68765
- Duration of execution might put completion in NFP so I'm not too keen
-4H shows a support (untested) @ 1.686 which could get in the way
Note additional bearish support comes in from the daily which is forming an inverted hammer - if nothing changes
Indexes are turning bearish - most have been around all time highs
Risks - most bearish setups on Cable have failed lately -> this setup requires good data from the US to support on-going bearish action and its been a spot mixed for the dollar on that front.
As always the dice will roll and anything can happen.
I'll chat tomorrow
Few thoughts
-NFP tomorrow so, I'll prefer to look at it with the popcorn in one hand
GU 1H
Technical structure: Flat sided triangle - Bearish bias - in formation
- Requires the break of 1.68775 has a measured target of 1.68765
- Duration of execution might put completion in NFP so I'm not too keen
-4H shows a support (untested) @ 1.686 which could get in the way
Note additional bearish support comes in from the daily which is forming an inverted hammer - if nothing changes
Indexes are turning bearish - most have been around all time highs
Risks - most bearish setups on Cable have failed lately -> this setup requires good data from the US to support on-going bearish action and its been a spot mixed for the dollar on that front.
As always the dice will roll and anything can happen.
I'll chat tomorrow
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