closing above daily hi 1.5744 put pairs on breakout. previous highest hi 1.5751.
Price is bullish for breakout above 1.5751. See weekly and daily chart's resistance. Each time, it break resistance/support = big swing to another range.
Hour 4 RSI??? ==
Why short?
If want short, wait for daily close under 1.5744 meaning no breakout, if not go long add on retracement once pullback is completed following the trend then to fight. Ofc there are chances to short. But don't look good if it's above daily resistance. if it reclaimed back resistance channel, then it's worthy. meanwhile, all these look more like pullback to me. Just like how people may have short all the way from 1.56-1.57 until today.
The catalyst for bullish GBP is quite obvious as seen on fundamental's update, which should keep the risk on bull on GBP pairs.
Price is bullish for breakout above 1.5751. See weekly and daily chart's resistance. Each time, it break resistance/support = big swing to another range.
Hour 4 RSI??? ==
Why short?
If want short, wait for daily close under 1.5744 meaning no breakout, if not go long add on retracement once pullback is completed following the trend then to fight. Ofc there are chances to short. But don't look good if it's above daily resistance. if it reclaimed back resistance channel, then it's worthy. meanwhile, all these look more like pullback to me. Just like how people may have short all the way from 1.56-1.57 until today.
The catalyst for bullish GBP is quite obvious as seen on fundamental's update, which should keep the risk on bull on GBP pairs.