Possible short setup in GBP/USD
Just some
thoughts and charts as we look to start the new trading week:
EUR/JPY – while EUR/JPY
seems set to break to new highs, we need to remind ourselves that we have been
here before on several occasions in the last few weeks. We suspect we simply see
more of the prolonged trading range of 150.40 – 149.20.
A ‘show me’ approach to this
cross is needed for us before we look to make a trade in it.
GBP/USD – a possible
short set-up – lot’s of overhead resistance.
USD/JPY – looking to get long on any pull-backs into support at 117.60
with a 30-40 pip stop-loss – upside targets at 118.25-40
Short-Term Reversal Levels (STRL’s):
valid through 11/6 at 22:00 GMT
As always,
feel free to send me your comments and questions.
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