TRADING
TIPS :
GBPUSD has made quite a few attempts to
break the resistance at 1.565 and looks to have formed a double top.
If this pattern is validated, GBPUSD could see a quick decline down
to 1.55165 which marks the measured move of the double top pattern
and also forms the major support level that we have noted. On the
daily charts, price has been moving sideways but there is a potential
ascending triangle pattern being formed with resistance at 1.567. If
the lower time frame double top pattern is validated, GBPUSD could
see a decline to 1.5516 which could then give way for a test to
1.5324.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5640 TARGET 1.5660 1.5690 SL 1.5610
SELL
GBPUSD BELOW 1.5505 TARGET 1.5485 1.5455 SL 1.5535
RECOMMENDATION:
BUY EURUSD ABOVE
1.0945 TARGET 1.0965 1.0995 SL 1.0915
SELL EURUSD BELOW
1.0845 TARGET 1.0825 1.0795 SL 1.0875
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