UKOUSD 10 Oct 2023 on weekly timeframe. It can be seen that this commodity is still unable to rise until it breaks S1 towards R1. returned to bearish since touching 94.409 then dropped to 85.159. Although it can be seen on the chart that there is a bullish signal being initiated, but if you refer to the stochastic indicator the bearish is still likely to continue. If the bearish continues then go-short is still an option. Conversely, if this commodity is able to continue the bullish that has been initiated, then go-long can be an option. Keep an eye on volatile market movements, consider all possibilities before making trading decisions.
