Catch the London breakout
Presented is a buy analysis with the 1 hr chart.
We see continued support along 1.74800. With the MACD/SIGNAL cross at a key trading time (London Session open) near I sentiment this to be a pivot off support.
RSI is rising out of oversold zone and gaining momentum while RVI is curving into a cross and then through zero line for trend/volume confirmation.
Current strength and sentiment is heavily in the sterlings favor.
My TP is zone is our key resistance of 1.76000 with a stop loss below current support.
Please comment with thoughts and ideas. Thank you.
We see continued support along 1.74800. With the MACD/SIGNAL cross at a key trading time (London Session open) near I sentiment this to be a pivot off support.
RSI is rising out of oversold zone and gaining momentum while RVI is curving into a cross and then through zero line for trend/volume confirmation.
Current strength and sentiment is heavily in the sterlings favor.
My TP is zone is our key resistance of 1.76000 with a stop loss below current support.
Please comment with thoughts and ideas. Thank you.
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