Despite Monday's complete absence of important news on the calendar, let me write a little about the schedule. He looks very suspicious and at the same time very promising. On the diary, quotes approached strong support, which is also support for the “channel”:

1

It would seem that this is a 100% purchase with a goal of at least half the channel width, i.e. with a target in the area of ​​1.30. But if the pound / dollar goes somewhere, he usually continues to do this, and the reversal occurs at an arbitrary (if you look from the position of technical analysis) place of the chart. Here we have such a situation, so the desire to buy tends to zero. On the other hand, I like to play it safe often, so reluctance to buy is subjective, it is quite possible that the pound will begin to grow rapidly today. On the other hand, at the moment, the local trend is downward, so it’s logical to sell the pound. From current prices, this is clearly not interesting, because the stop will be at least 70 points higher than current prices. Based on the foregoing, there are two trading plans. A plan for fearless quotes overlords is to buy a pair from the current or on a small pullback with a stop no higher than 1.2800. The second plan is to sell according to the trend in case of growth to the area of ​​1.30, there is just the middle of the “channel” and the previously broken support level (you can build it on the chart without a calculator). Profit depends on the imagination, although everything is visible on the schedule.

This review is not a guide to transactions.
Dmitry Semenov, Kalita-Finance

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