DislikedI was considering this setup, but there are a few bar lows and a ppz right above around the 1.73 area....Ignored
since i share the same view as above, i think price needs to push through 1.73 with a lot of momentum if it really wants to go up.
upside traffic seem to be the small rectangle on your chart, then around 1.7650 - 1.7750/1.7800 (bar lows/highs right around the blue MA).
the scenarios i see here:
- if 1.7300 holds, we range below it or go down further
OR
- price push past 1.73, price ranges within 1.7300 - 1.7550 zone or the wider 1.7300 - 1.7700/1.7900 zone before deciding to go up past 1.79 or down past 1.73. but looks like a +/-1.7000 more than a +/-1.8000 in the future.
just my view. let's see.. go gbpcad!