Hello DubaiFX and everybody
everybody has a point of you, nobody knows where the market will go for sure. Its all about probabilities. I am still very bearish on that pair. The reason the cable went to 1.52 is because was staying on the support level 1.5116- 1.5128 for so long and did not have the power to break below. Now is going higher so when the time for drop comes it will have enough strength to break that level (1.51) It may goes all the way to 1.5246, which is 38% on Fibo on 4h chart. I personally dont think so it will go that far, but never know. Anyway even if its go there its a selling opportunity, its a election week in uk, everybody knows that, uncertainty in the goverment makes the currency weak( EUR - GREECE) There is NO fundamental reason why the cable will go up. There is NO technical reason why should go up as well( I dont think I need to post the weekly chart, evrybody can see it)The big boys are just playing their game, I am just trying to help here and like I said its just a point of view, but I think its a solid one.
Thank you and good luck
everybody has a point of you, nobody knows where the market will go for sure. Its all about probabilities. I am still very bearish on that pair. The reason the cable went to 1.52 is because was staying on the support level 1.5116- 1.5128 for so long and did not have the power to break below. Now is going higher so when the time for drop comes it will have enough strength to break that level (1.51) It may goes all the way to 1.5246, which is 38% on Fibo on 4h chart. I personally dont think so it will go that far, but never know. Anyway even if its go there its a selling opportunity, its a election week in uk, everybody knows that, uncertainty in the goverment makes the currency weak( EUR - GREECE) There is NO fundamental reason why the cable will go up. There is NO technical reason why should go up as well( I dont think I need to post the weekly chart, evrybody can see it)The big boys are just playing their game, I am just trying to help here and like I said its just a point of view, but I think its a solid one.
Thank you and good luck