Hello traders,
it’s the last day of the month of January. Let’s see what setups we can work with
1. GBP/USD
Last week we saw GBP/USD continue its bearish move to a key support level (1.33573)
This week we may see a pullback of price back to resistance level 1.35108 before returning to support level 1.33573
If the bears are aggressive this week, we may also see price break the current support level and go further down to the next possible support level (1.31991)
2. USD/JPY
Last week USD/JPY reached a critical resistance level (115.638) before reversing to hit the present support level (115.086)
This could be a minor pullback from last week’s bullish run, however, if the 115.086 support level gets broken, then we may see price slip further down to hit the first possible support level (114.203) before going further down to 113.665
If the bears don’t come out strong this week and price returns and breaks resistance level 115.638, then price could hit 116.333 as the next possible resistance level
what say you?
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