EJ & Sterling Set To Fall

Sterling may not have finished falling yet. After the large drop a couple of weeks ago price did retrace a bit but there are signs that it might continue falling further so it's worth watching the pound pairs for opportunity. I'll be watching a few other pairs this week too as detailed here.

EURGBP - Short

After a brief fall from the daily supply we looked at last week, price reversed and continued long in the direction of the initial impulse move. There is more supply above which is worth watching for a reaction too.

2016-07-03 EG Short D1 v01 2016-07-03 EG Short D1 v02

EURJPY - Short

EJ is still on the radar following its feature last week. The engulf of the demand level was significant and the path below is clear. Price spent last week rallying up to the previous demand level. We could see price fall as the demand may turn into a swap zone. Time will tell.

2016-07-03 EJ Short D1 v01

2016-07-03 EJ Short D1 v02

GBPUSD - Short

Price tried to rally last week but was unable to. The decent could well continue but as yet it's unclear how far.

2016-07-03 GU Short D1

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