Good day legendary traders,
Counting down to the end of May already.
Let’s see what the market has for us tomorrow…
1. GBP/USD
GBP/USD on the daily chart has price testing support level 1.26470.
For the past one week plus, price was locked within a consolidation zone. Today we see price trying to break support level 1.26470.
If price succeeds in breaking the present level, there is a great tendency that the bears will further drag price to the next possible support level (1.24841).
2. EUR/AUD
EUR/AUD on the daily chart bounced off resistance level 1.62554, hence we see a reversal.
The big question is:
- When price hits support level 1.60608, will it bounce back to the previous resistance level (1.62554) or
- Will there be a breakout through the support level, hence encouraging the bears to drag price to the next possible support level 1.58210.
With the way the market is static, I don’t know if this setup will materialize this week.
That said, let me return to my sniping post, hopefully, I get a pair to snipe.
Wishing everyone a great day ahead
