FaithMight

New Week Possibilities

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@faithmight

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After a strong week, it is not surprising to find sterling spending another Monday consolidating gains and pulling back off fresh new highs. If the trend continues in this new 1st week of a new month of trading, a correction of mostly last week’s rallies could provide opportunity for bulls. However, it also gives us levels to watch if the correction decides to turn into a deeper reversal.

$GBPUSD

GBPUSD 4 HOUR CHART

$GBPAUD

GBPAUD 4 HOUR CHART

$GBPNZD

GBPNZD 4 HOUR CHART

$EURGBP

EURGBP 4 HOUR CHART

 

 

 

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One response to “New Week Possibilities”

  1. Sterling Begins To Unwinds – FaithMightFX

    […] At the beginning of the week, I put out some charts that I was watching on a correction. Corrections of last week’s rallies materialized and sterling put in even higher highs across the board: $EURGBP hit 0.8250, $GBPUSD hit 1.6450, $GBPAUD hit 1.8190, $GBPJPY hit 169.17, and $GBPNZD hit new highs last week at 2.0238. These are major levels not seen in 3+ years for some of these pairs. It seemed as if nothing could stop GBP bulls. […]

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