DislikedI remain bearish on both pairs for the week.... British austerity measures, troubles in the government and in the central bank and a slower global economy point to a weaker pound...
Looking down, 1.5480 is now the first support line. It was the top border of the range that cable traded in in the last week. Below, 1.5350 provided to be a very strong support line. A break under this line means trouble for the pound.
E/U
Looking down below 1.3334, the 1.3267 line provides support on the way down. 1.3180 is already stronger support, after working...Ignored
I will say I absolutely agree with you. Your two levels are the top and bottom of the inside bars we have here on the daily chart. It appears the bullish move we got on Friday may have been a fake out to the north as we are now back in the range.
I anticipate we may break to the south but I still have my OCO under your 5350 level.
Great analysis....