Today's Important News Events:
Date Time (UTC) Event Forecast Previous
Wed Apr 18
GBP Bank of England Minutes
GBP Jobless Claims Change (MAR)
For the most part the pair consolidated yesterday without finding a clear direction. Overall the 4h charts are in a very mild downward trend given the lower lows and lower highs of late, but we are very near the price level we were at 30 days ago so the trend is weak at best.
Overall we are still looking for reasons to get short.
Trading Idea: We are going to take an aggressive short on another approach to the falling resistance (proximity alert for PRO members) with targets at 20/20/20/20 for 80 pips. We will look to close and get long on a resistance break with targets at 20/20/25/25 for 90 pips profit.