The GBPUSD began to move higher at the European open and jumped higher still when the London traders came on today, before quickly reversing back to trend.
A short was taken risking 20 pips for a potential 107 pips to our daily target at 1.2678. This pair has not been able to close below 1.2715 this week which is a very important level on the daily chart, but it is testing the 1.2700 figure each day and so far running into buyers in the area.
Price moved significantly lower going through its Asian session low and we protected our profits at the 1.2715 level, where we were taken out of the trade.
The AUDUSD made a gradual rise higher in the Asian session and as London came on it climbed higher for 2 candles then reversed. With USD strength picking up a short was taken at its Asian session high risking 15 pips for a potential 72 pips to our daily target at .7000.
Price declined further to test its Asian session low and had a quick bounce higher taking us out of the trade as we protected profits just above the Asian session low.
European and U.K. virus infection rate increases have enabled the USD to climb this week. A close above the March 9th low at 94.65 will be bullish for an eventual test of the June 10th low at 95.72
Good luck with your trading and enjoy your weekend!
