TGIF Legendary Traders,
Sorry for being absent yesterday, I could not place my finger on any viable setup, so I decided to call it quits before I fry what’s remaining of my brain cells.
Today, some interesting things are happening in the market, you wanna see what?
Let’s hit the charts…
1. GBP/USD
GBP/USD is presently touching a key support level (1.30717)
The general trend is bearish on the daily chart as at this moment. We may see a slight pullback before the bears resume.
If the present support level is broken, we may see 1.29900 as the next possible support level. If for any reason, the present support level holds price from dropping, We could see price revisit resistance level 1.31638.
2. NZD/USD
On USD/CAD, we have got price halted by resistance level 1.33692.
The pattern formed on this pair could also be a head and shoulder. If the 2 pm candlestick closes indecisive (a doji), we may be seeing the bears getting ready to hit the next possible support level (1.33042).
Remember, we are heading into a Friday, extreme caution should be observed
