GBP/USD is expected to be further
consolidated. The pair is testing 1.2800
support slots and traders can look for
long positions. In the upward direction,
1.3000 becomes the upstream target
when the rebound occurs. If the pair
continues to decline, the 200-day moving
average will be the level at which long
positions are sought.
Key levels to focus :
EUR/USD closed below 1.1120 with a
bearish engulfing graph. The graph has
not been confirmed, as long as it does
not close below this graphical low, the
currency pair has the possibility of going
up. The pair can close between 1.1120
and 1.1185 in the following week, so it is
expected to continue its upward trend.
Key levels to focus
Support: 1.1000, 1.0900...
GBP/USD: Fall back to trend line support
Sterling/DOLLAR fell over the weekend,
with the failure to hold a meaningful vote
undermining sentiment that the Brexit bill
would pass. Sterling slipped and fell again
to the trend line support, suggesting that
the pair might turn bullish and that the
outlook would remain, unless it
fell below 1.284.
EUR/USD (4 Hours) Starts to decline, but the recent upward trend remains unchanged
The euro/dollar weakened in early trading today, breaking away from a strong period and hitting a two month high on Friday. The expectation of a near-term break of 1.1111 is that we may see further gains in the short term. So while we see some downtrend, this looks like a buying...