18.10.2017 • 13:00 GMT
Trading the Majors - Price Action Setups
- We started off by looking at the British Pound, which is in an interesting spot as short-term price action is bearish; but long-term price action may have bullish connotations given that we’re currently trading within a large zone of bigger-picture support. At the time of the webinar, we were seeing short-term resistance at the top-side of the zone around 1.3187. If support does show before the bottom of the zone is reached, the longer-term bullish stance will look considerably more attractive as we approach a rate decision in which the BoE may actually hike rates (on November 2nd).