ETHUSD About to Break Resistance
June 3, 2020
EURMXN Finds Resistance at 24.8855
June 4, 2020
GBPMXN CHART PRICE – GBPMXN DAILY
British pound is close to the resistance at 27.7379 once it touches the resistance we could potentially go short, this resistance level was tested on Tuesday, however it did not reach the support and bounced back up a few pips, if the price were to touch the resistance its very likely that other traders will start placing short positions on this pair, its RSI level is at 37.5% currently as in the last 2 days it has gains over the Mexican Peso, Moving Averages are getting wider, Bollinger Bands are wide and price is trading below Ichimoku Cloud, Indicators tell us that the downtrend should continue, however I would wait for the price to reach 27.73 and see if it breaks it or if the price starts dropping in order to make a trade decision.
This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.
