Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.
GBPUSD has reached the daily trendline that I mentioned in last articles:
For now I won’t trade it until today’s USD and GBP news, but I don’t like trading the news as I said in the forex sentiment article. I expect that Euro’s problems now going to appear more clearly and Irish debt is a key to change market movers sentiment from bullish Euro to a bearish trend.
I recommend you to see this great picture:
After Ireland we might see Spain and Portugal get into serious troubles and all these things show that sentiment is going to be changed.
I expect GBPUSD to break that daily trendline and go all the way down to 1.5750 and 1.5650.
The same for EURUSD, it might fall to 1.3450 and in case of breaking that level might fall to 1.3380(another retest of H4 trendline) and then around 1.3300(retest of daily trendline)
I will watch carefully that trendlines and USD news, if USD news went worse than expected and EURUSD went down then it shows that sentiment is changed and this pair will fall more without any attentions to USD bad news or EURO good news.
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