Chart of the Day: GBP/USD D1
Cable has been on a tear as of late. Comments from B0E have kept it bouyant, but there is some resistance just above. I believe the worry zone will be near 1.7000 for the UK. They may have to raise their rhetoric about cutting rates at that point.
EUR/USD D1 Chart:
Euro is at a W1 S/R level as shown in the chart with some D1 resistance just above. It pushed above the bear pin bar from two days earlier, but still closed below the W1 s/R level (blue line). It could be a stop hunt on the traders that took the pin bar short. We’ll keep a close eye on it.
In The News:
Weak retail sales shrugged off (ForexLive!)
08:30 CAD Manufacturing Sales m/m
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