The USD started the trading week stronger while the GBP weakened.
Today as the U.S, session got underway, the pair moved lower then went sideways for the second hour, before moving further to the downside. A short was taken risking 15 pips for a potential 64 pips to our daily target at 1.3848.
Price moved lower to test its Asian session low, then retested this level, and found sellers, moving lower but was unable to close beneath Friday’s low. We closed the trade at the European close.
The U.S. session for the next 2 weeks begins an hour earlier and overlaps with London for five hours instead of the usual four hours.
Some levels to watch on the GBP:
Above 1.3850
1.3900, 1.3950, 1.3975, 1.4000, 1.4018, 1.4050, 1.4089
Below 1.3850
1.3800, 1.3775, 1.3760, 1.3725, 1.3700
Good luck with your trading!