GBPusd
See What Patience can do in Forex Trading. The Forex Mechanics waited for the the Price Level 1.27082 to be broken to the South. Please refer to our last post to see the analysis.. We are out of this trade temporarily.
The Forex Mechanics feel the Market will hover between 1.27028 and 1.26352 and might only come back after retesting 1.27028.
Again we are going to play the waiting game here. . Once it retests 1.27028 which was the Support Level We will wait to see the Candle it will form before taking Decision.
See The Daily and Weekly Chart below:
We have not forgotten that we also mentioned USDjpy . This is still Under the Radar of the Forex Mechanics. We are still expecting it to break to the North for the month. But the Resistance Level 113.814 is yet to be broken. The Price Dipped to a Support level At 112.533 and could not break it to the South. We are expecting the price to go back to 113.816 Resistance Level before we decide on what to do. You can see we are in the Trade to the North already.
See Chart Below
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