remains in a sideways for 3 weeks but holding strong support at 1.3840/20 keeps bulls in control and eventually should see a resumption of the longer term bull trend.
tested support at the 4 week low at 8560/50 hitting 8531 last week.
GBP/USD buy at 1.3840/20 for a swing trade with stops below 1.3770. A break lower is a medium term sell signal.
Minor resistance at 1.3905/25. Above 1.3945 opens the door to resistance at the upper end of the range at 1.3990/1.4010. A break higher targets 1.4060/70.
EUR/GBP holding above 8570 tests key resistance at 8600/10. Try shorts with stops above 8620. A break higher is a buy signal targeting 8640, perhaps as far as 8665/70.
Support at the 4 week low at 8550/40 but a break below 8530 is the next sell signal, initially targeting 8500/8490.
- Weekly Outlook Positive
- Daily Outlook Negative
- Short Term Outlook Negative
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.