GBP/USD trades mostly sideways in oversold conditions as expected. Minor resistance at 1.3540 then strong resistance at 1.3590/99. Shorts need stops above 1.3630. A break higher targets 1.3670/75.
A break below yesterday's low at 1.3457 risks a slide to 1.3415/10 but the downside is expected to be limited in oversold conditions.
GBP/JPY I was a day early on my sideways call unfortunately. After a strong bounce in oversold conditions we lost all the gains yesterday. Further sideways action is likely with first resistance at 148.60/65 but above here targets 148.95/99 then resistance at 149.55/65. A push higher then targets 150.10/20.
Failure to beat 148.60/65 targets 148.10/00, perhaps as far as 147.75 before the low at 147.10/04.
Add a Comment
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.