EUR/USD recently reached the target level 1.3013 that was given in the following trade opportunity alert that I received for this currency pair last week. The pair fell sharply down the next day after we covered this alert – nearly touching 1.3013 with the Doji Japanese Candlestick pattern on the daily charts. The pair then corrected shortly up and fell through this target level the last Friday.
EUR/USD" title="EUR/USD" width="600" height="333">
Last Friday, GBP/USD also reached the target level 1.5080 that was given in the following trade opportunity alert. This target level corresponds to the last upward reversal point (A) of the Flag chart pattern identified by Autochartist on the 4-hour GBP/USD charts. This downward breakout continues the previous sharp downward price impulse which recently broke the long-term round support level 1.5300 (which had reversed the pair up a few times from 2010). GBP/USD is likely to continue downward movement in the coming sessions.
GBP/USD" title="GBP/USD" width="600" height="339">
The following weekly GBP/USD chart shows the previous price action near the major support 1.5300:
GBP/USD Weekly" title="GBP/USD Weekly" width="599" height="679">