As we expected, the GBP/USD broke below the upward trend line and reached our 1st target at 1.59.
As we mentioned before, if the pair breaks below the 1.59 support, it can reach the 1.5720 strong support (formerly resistance), where it will also hit the 200 SMA on the weekly chart.
All in all, the main trend for the GPB/USD is still upwards. If the pair breaks above the 1.6250 resistance, we expect it to continue towards the 1.67 area, followed by 1.7030.
The USD/JPY is still trading in the triangular pattern. A break above 99.00 can take the pair to its previous high at the 103-104 area.
- 100% Bonus on your First Deposit
- Only USD 100 Minumum Deposit
- Free Interactive Courses and Personal account managers t
- Free Demo Account