Hello Traders,
Let’s hit the charts…
1. GBP/USD
When you look at the daily time frame on the GBP/USD, price is wrestling with resistance level 1.29820.
If price succeeds in breaking out, we should be looking out for additional confirmation before taking a buy and having in mind that our next possible resistance level would be 1.31714.
2. EUR/CHF
Today, we saw EUR/CHF breakthrough support level 1.09720 and continue a strong bearish fall to the next support level (1.09251) without any stress.
Even though I know that there is a 50% probability of price bouncing back to a former support level (1.09720), I do have a funny feeling that price may most likely continue the fall to the next possible support level (1.08711)
Don’t take my word for it folks, trading emotions is one quick way to get roasted by the market.
Personally I will wait for a bearish confirmation if I get to see a bearish breakout of support level1.09251, and if that doesn’t happen, oh well, I will sip my cup of coffee and wait for my next setup to trade.
Alright dudes and dudettes, that’s all we have for today, join us again tomorrow for another breakdown of the market.
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Thanks for your time and as always
Do remain pip-full
