GBPUSD hit our selling opportunity at 1.6335/40 & topped exactly here. This trade worked perfectly as we collapsed to our lower target & good support at 1.6215 for a buying opportunity. We bottomed almost exactly here at 1.6219 & have shot higher to 1.6288. If we can hold above 1.6275 we can push higher towards 1.6310/20 for a selling opportunity with stops above 1.6345. Try shorts again up to 1.6370 which should hold a move higher.
Below 1.6265 however keeps the market under pressure for 1.6250 & possibly a retest of 1.6220/15 for a buying opportunity.
Look for a low for the day again but longs need stops below 1.6190. Next buying opportunity at 1.6160/50.
Weekly outlook is negative with any strength offering a selling opportunity. Unlikely we make it as far as 1.6445/65 again but only a daily close above here will rescue bulls. A break below 1.6200 adds pressure for 1.6060.
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Euro Stoxx: Longs Need Stops Below 2900
Published 12/18/2013, 06:57 AM
Updated 05/14/2017, 06:45 AM
Euro Stoxx: Longs Need Stops Below 2900
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