Hello Traders,
Let’s hit the charts…
1. GBP/USD
The GBP/USD is presently bearish, however, we have one confirmation test to carry out before we conclude on how much determination the sellers have to further pull price down.
Presently, price is approaching a key support level (1.23219), a breakout will most likely encourage more sellers into the market, which may further push price to the next possible support level (1.22049)
There is also a slight possibility of price bouncing off support level 1.23219 before revisiting resistance level 1.23897.
2. NZD/JPY
The Bears currently rule among the JPY pairs and the NZD/JPY is no different.
We can see a price breakout of support level 64.264, the close of the 6 pm candlestick may give us a slight pullback before price continues it’s bearish move to the next possible support level (63.207).
What are your thoughts?
Kindly comment below
