Pound on Expanded QE short
A suggestion for further price erosion of pound ( as BOE bumps up QE) , with a consideration of fibonacci's.
Overlying resistance on the intraday chart see a confluence of MAV's and Horizontal resistance.
Consider
1. Enter short = 1.2495 ( Retest for resistance)
2. Stop - above recent consolidation = 1.2595 ( 100 pips)
3. Target - 3 shown corresponding to Fib extensions
RR = average to 2.5+ .....
Overlying resistance on the intraday chart see a confluence of MAV's and Horizontal resistance.
Consider
1. Enter short = 1.2495 ( Retest for resistance)
2. Stop - above recent consolidation = 1.2595 ( 100 pips)
3. Target - 3 shown corresponding to Fib extensions
RR = average to 2.5+ .....
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