On various occasions
we have seen how the 200 period exponential moving average can act as a very
good support or resistance zone, especially on the daily chart. On the GBP/USD
daily chart we can see that the price has made some very interesting movements
around its 200 period EMA. On several occasions the 200 EMA has acted as
support or resistance. Today we see that the price has broken below that moving
average and if the next daily candle is also bearish, then all we have to do is
wait for the pullback to the same 1.5459 zone for a possible short entry.
Great analysis! I'll be very careful with this asset.
ReplyDeleteGood point. I'll keep a close eye on it.
ReplyDeleteGood observations.
ReplyDeleteWell done, thank you.
ReplyDeleteThank you for the analysis, I will keep it in mind!
ReplyDeleteVery helpful analysis!
ReplyDeleteGood analysis.
ReplyDeleteThank you for the analysis.
ReplyDelete