Who’s ready to make pips?
Which one will you more likely trade this week?
GBP/USD: 1-hourGBP/USD is chillin’ like a Marvel villain around the 1.2250 minor psychological level, which is not too far from a channel and 100 SMA support on the 1-hour time frame.
Buying at current levels or a couple of pips lower would make for a good trade if you’re betting on Cable extending its uptrend and making new May highs in the next trading sessions.
Meanwhile, those who are looking to short could wait for a clear break below the SMAs and then target previous support levels near 1.2165 or 1.2100.
Good luck and good trading this one!
Here’s one for the swing and position traders out there! A few days ago we were looking at EUR/CHF’s consolidation around the 100 SMA and a trend line that hadn’t been broken…until now.Not only has EUR/CHF broken above the trend line and 100 SMA, but it has also made new May highs yesterday.
Can the bulls sustain a momentum? You can buy the euro at current prices or at a retest of the 1.0650 previous range resistance if you think that EUR/CHF can hit the 1.0700 previous previous high or the 1.0800 levels closer to the 200 SMA.
If you believe that we’re just seeing a fakeout, though, then you can also wait until EUR/CHF comfortably trades back inside the range and then position your orders to take advantage of a possible trip to the 1.0500 range support.