GBP/USDWall Street’s declines supported the USD, though the pound showed an impressive strength against the USD. The trade-idea in this pair, I published in the past two weeks, gained over 300 pips (break- ups at 1.62 & 1.63.3). The pound retested its recent breaking area, and seemed to reach a level of a possible reversal-up, at Fibonacci 38% level. A break-up of yesterday’s high at 1.637, can take the GBP to 1.64 again and retest the high at 1.643. Important news for the GBP today: home prices change.
GBP/CHFThis pair can be very tricky. On the one hand, no doubt that the Swiss currency is investors’ safe shore when Wall Street falls. On the other hand, the pound is surprisingly strong these days, in spite of the bullish trend in the USD, so GBP/CHF might be dangerous for trading now. Nevertheless, all charts are showing an obvious advantage for the CHF against the pound, so the chances are for more plunging, though the GBP might correct. There is an accurate supporting line at 1.3035, and a strong break-down there might slide to 1.29 and below. However, a correction in the pound might launch it to the resistance of the descending trend line at 1.32-1.325, so all options are on the table for now.

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