Sterling failed to break out the resistance at 1.3100 coz of the uncertainty of Brexit and less dovish FOMC. Unfortunately, sterling will complete a head and shoulder term pattern.That should confirm completion of rebound from 1.2790. Further decline should be seen to 61.8% retracement of 1.2790 to 1.3110 at 1.2900 next. On the upside, though, break of 1.3060 will turn focus back to 1.3130 resistance instead.
The target is 1.2900.
Turning point: 1.3060.
Under 1.3060, bearish , target price is set at 1.2940, then 1.2900.
Above 1.3060, bullish , target price is 1.3100,then 1.3130.
RSI technical indicators are bearish and have a further downward trend.
Prior Strategy:
The target is 1.2900.
Turning point: 1.3060.
Under 1.3060, bearish , target price is set at 1.2940, then 1.2900.
Above 1.3060, bullish , target price is 1.3100,then 1.3130.
RSI technical indicators are bearish and have a further downward trend.
Prior Strategy:
