GBP is falling but not across the board. This is due to China strength andUS dollar strength in their respective currencies.
Although only GBPUSD and GBPCNY has falling by themselves, the GBP index is testing the backside of a broken trendline:
So, there is a probe for resistance.
The GBPUSD fell right into the area where I take shorts and has penetrated the counter trendline.
It will pause here at 61.8% or contune down next week:
I do my update over the weekend...so, I am taking a break after this.
Although only GBPUSD and GBPCNY has falling by themselves, the GBP index is testing the backside of a broken trendline:
The GBPUSD fell right into the area where I take shorts and has penetrated the counter trendline.
It will pause here at 61.8% or contune down next week:
I do my update over the weekend...so, I am taking a break after this.
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.