The British pound has been getting severely devalued over the past few month. Price action suggests this will continue.
I have identified a supply zone at 1.28110 - 1.28330 where I feel we may see a reaction.
This region coincides with the 127.2% retrace of the most recent move to the downside (h1 TF) and the 50% retracement of the full move. I will be looking for a low risk - high reward entry in the coming days as price reaches this zone.
I have identified a supply zone at 1.28110 - 1.28330 where I feel we may see a reaction.
This region coincides with the 127.2% retrace of the most recent move to the downside (h1 TF) and the 50% retracement of the full move. I will be looking for a low risk - high reward entry in the coming days as price reaches this zone.