15th July weekly bar is insurance bar did not break last week closing price and closed off the high. Due to closing its high showing a lot of demand for rising prices.
December monthly bar is key reversal bar made a new low closed of the high. Professionals increasing long positions in gbp, so getting strong across the board.
Daily time frame Descending Triangle breakout.
Bars “A” & “B” broke to make further lower low, both bars are “Coil Bars” early indication for upside move.
Bar “C” Insurance bar broke last three bars high and closed on the high.
1.9140-50 initial resistance area need to break to confirm bullish target 1.9460. Market moving sideways since last few weeks.
Resistances: 1.9140, next level 1.9310. price may consolidate at resistance 1.9460 for further clue.
Supports: 1.8905, then 1.8810 and 1.8650