Here we see a combination of factors pointing me towards a bullish bias
- reaction off the 8 month trend line as expected
- fibonacci cluster zone
- supply turned demand zone test, or breakout retest
- low volume node (volume profile)
Additionally, the pound has been one of the weakest currencies the last few weeks and months. Taking a look at the pair against the dollar and gold, we see signs of a reversal in sentiment. Also AUD has been and is showing signs of a continuation of its weakness.
- reaction off the 8 month trend line as expected
- fibonacci cluster zone
- supply turned demand zone test, or breakout retest
- low volume node (volume profile)
Additionally, the pound has been one of the weakest currencies the last few weeks and months. Taking a look at the pair against the dollar and gold, we see signs of a reversal in sentiment. Also AUD has been and is showing signs of a continuation of its weakness.