Hello traders,
let’s see what the week has for us:
1. GBP/USD
GBP/USD struggled last week to get off the support level 1.14774 which is a level that has held price for almost 6 years.
The bulls are struggling to take a stand at the current historical support level suggests how weak the GBP is
This week price may struggle to hit the key resistance zone, but if it does, I will be watching out for either a reversal within the descending channel or a breakout.
That said, I won’t be surprised if the current support level fails to hold price and price falls below 1.14774, that’s where the real killing will be.
2. AUD/USD
AUD/USD gave us an explosive bullish move last week Friday, only for volatility to subside hours before the close of the market.
If the bulls resume with the same intensity as last week, there is a possibility that price will break the key resistance zone and head to the next possible resistance zone
The descending channel may also be strong enough to hold price to a reversal this week, and if that happens, support level 0.67741 would be price next bus stop
3. EUR/JPY
Resistance level 144.218 stood its ground last week before the close of market.
If the bears continue with their momentum this week, then price next bus stop will most likely be 141.329. But, if price breaks the 144.218 resistance level, then 145.689 could be our next possible resistance level
What say you?
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