supporting trend line hits about 1.2220 on June 24th on my trading platform but not here.
quick run up. slow bleed back down?
First line of resistance has been approached with lots of momentum. Surely, it will be taken out soon. 85.95 may be a bit more difficult. We may see some retracement starting now or consolidation before another leg higher. Taper/dollar bulls are back on heavy, not a sign they will let up.
I might take a small short here since the bulls haven't blasted this pair through the top. The bears have been losing the battle though so might wait to see if it rolls over.
I still think the GBP is better off than EUR fundamentally.
I don't expect this to fall further than 1.48 in the next day. Expect some consolidation and limited upside to just above 1.5000.
your comments please. Testing this trend line and if Yen crosses are still in consolidation mode. NFP tomorrow may wreck this plan? Bulls can go wild. My stop is under 101. Targeting low 99.30s again.
Doesn't look good for the Euro at the moment but these things have blown over in the past.
doesn't look good. might be worth taking a small short. Or wait for the break and this resistance will turn into support.
Your comments please. The recent consolidation in the JPY crosses have lead to the USD & EUR breaking a bit higher. The GBP, however, has held below resistance line seen on the 4hr and daily chart. Does this need a catalyst to break above or fall below the recent channel. Since its near the top, take some shorts and use a stop. Your comments welcome please.