TECHNICAL
Reason 1:
- Price confined between two trend-lines since 30/05/2018
- Bullish move from 21/06/2018 now touched and formed a rejection candle off the top trend line resistance
Reason 2:
- 0.88 Physchological level acted as resistance, coinciding with the rejection of the trend-line
Reason 3:
- Price formed a higher low on 30/05/2018 - 14/06/2018, however this was printed as a lower low on the RSI chart
- Indicates bearish
FUNDAMENTALS
- "Hawkish MPC vote split revives August rate hike prospects and lifts the British Pound" fxstreet.com/news/gbp-jpy-surges-to-14600-neighborhood-on-hawkish-boe-vote-split-201806211105
- Euro involved in trade spat with USA, if this were to continue or ramp up will provide weakness for the Euro.
-Appreciate any thoughts, comments. Constructive criticism only please, thanks for reading.
James
Reason 1:
- Price confined between two trend-lines since 30/05/2018
- Bullish move from 21/06/2018 now touched and formed a rejection candle off the top trend line resistance
Reason 2:
- 0.88 Physchological level acted as resistance, coinciding with the rejection of the trend-line
Reason 3:
- Price formed a higher low on 30/05/2018 - 14/06/2018, however this was printed as a lower low on the RSI chart
- Indicates bearish
FUNDAMENTALS
- "Hawkish MPC vote split revives August rate hike prospects and lifts the British Pound" fxstreet.com/news/gbp-jpy-surges-to-14600-neighborhood-on-hawkish-boe-vote-split-201806211105
- Euro involved in trade spat with USA, if this were to continue or ramp up will provide weakness for the Euro.
-Appreciate any thoughts, comments. Constructive criticism only please, thanks for reading.
James
註釋
- Retesting 0.88 level again, waiting for the IFO business climate figure to see which way it goes註釋
False break X 2
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