Hello Traders,
Let’s hit the charts…
1. GBP/USD
Resistance level 1.34802 stood strong for the third time, and the Bulls driving the GBP/USD had no other alternative than to give way for the Bears.
Presently we are seeing a breakout of price through an ascending expanding channel.
For the more conservative traders, you could wait for the daily candlestick close before taking sides with the bears, and for the less conservative traders, you could take sides, depending on what your entry confirmation is
Mind you, if the breakout pulls through, our next possible support level will most likely be 1.31788
2. EUR/JPY
EUR/JPY closed heavily bearish yesterday after hitting resistance level 126.695
Today we are seeing price testing support level 125.801. If a bearish breakout is confirmed, price possible next stop would be most likely 125.346
3. AUD/NZD
On the daily chart of the AUD/NZD, we can see price resting on a key support level (1.08335)
A breakout through the present support level may further encourage sellers to pull price to the next possible support level (1.06592)
A reversal could take price back to a previous resistance level (1.10224)
What are your thoughts?
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