EUR/USD
Thursday's strength completed a bull pennant and is within a whisker of testing key 1.3120/25 resistance area. This area incorporates the 38.2% retracement level of the 1.5145/1.1876 decline and the measured objective of an inverse head-and-shoulders base pattern, and only a fresh wave of bull pressure will manage to force a clean break above there, opening 1.3150 and 1.3200. Support lies at 1.3047, but only below the bull pennant termination low at 1.2969 would concern bulls.
GBP/USD
Maintains the dominant short-term uptrend having set a fresh five-month high at 1.5661 Thursday, and is approaching the key 1.5700 resistance area. A weakening in bull momentum can be seen, so only a fresh wave of bull pressure would force a clean break through 1.5700, opening 1.5814. Weakness should be limited to the 1.5510/25 support area, which is protected by 1.5548.
No comments:
Post a Comment