Critical balance. Go short on long on break out points.

2018年8月14日

EURGBP has just been rejected emphatically on the 0.90324 Resistance and the 1D Channel Up (RSI = 51.984, Highs/Lows = 0.0000) has been put on hold. However it did find support and made a Higher Low near 0.8900, which keeps the Channel valid for another attempt at 0.90324. If it breaks then the 12-month long consolidation on 1W breaks and we will go long (TP = 0.9100). If not then we will go short on the other break - out points (see chart) with TP = 0.8800.