I've been stopped out of my existing EURUSD position, and the pair's sharp move to the topside warns against re-initiating it through the short term.
As for the GBPUSD: I remain bearish from last week based on forex options and futures sentiment data. Ideally I would sell a correction given current noteworthy declines, aiming for a short entry around 1.5450. The stop would subsequently be placed above the 1.5550 mark with first target ath the pair's 100-day Simple Moving Average at 1.5130.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.
