Forgetting for a moment the ongoing Brexit talks. Time to take a look where we are technically
Cable held a decent area of fib clusters earlier today. We bounced from the 61.8% from the Aug/Sept low/high, and also the outside fib from the downtrend the Oct 6 low. We are still under the major moving averages on the H4-H1 charts, so the bears have the edge in this battle for now.. It will be interesting to see what happens towards the fast approaching 1.3155/80 area that marks a short term resistance zone with the next fib cluster and trendline .It could be setting up for another shorting opportunity.
GBPUSD-H1
GBPNZD Has broken resistance to the upside . I opened a long trade yesterday on the retest of 1.8740. My thinking here was to take advantage of a weaker NZD rather than a strong GBP with a clear chart level to lean against .
GBPNZD-H4
Philosophy: "Trading rules.....it most certainly does"
Read how Horatio got into trading here
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