GBPUSD closed @ 1.29979, right on the psychological 1.3000 level.
Overall GBP is in an extended downtrend since Oct 2007. Having retraced up since Jan 2017 to 1.4350, it has resumed the down leg. Currently GBP is on a shallow extension of the overall downtrend within a clearly definable channel.
For the down channel to continue, price needs to push through...
EURUSD @ 1.156 at weekly close. Range bound within a symmetrical triangle since mid June. As such there are many key price points on the 4Hr chart.
Price is currently in a down swing from the top of the triangle (from 1.17450).
Price has pierced and retested the bottom of the triangle that goes back to 30Dec16.
Current support is at week close around 1.156.
MA...
