GBP sell positions
A very high volume wide spread pin bar appeared today during US session at 1.3858 (chart 1).
This is due to EMA 200 on a weekly basis. As already mentioned, Moving Average 200 is common used by investment banks, as they open positions there (chart 2).
The closest resistance level is the zone between 1.34 and 1.35 (chart 3).
Since we have high activity around 1.3860, it is a good sign to open the first block of short positions
This is due to EMA 200 on a weekly basis. As already mentioned, Moving Average 200 is common used by investment banks, as they open positions there (chart 2).
The closest resistance level is the zone between 1.34 and 1.35 (chart 3).
Since we have high activity around 1.3860, it is a good sign to open the first block of short positions
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