In this video, the Trader Guy looks at the currency pairs, EUR/USD and GBP/USD for the June 27th session.
EUR/USD — We fell pretty significantly during the course of the session on Friday in response to the UK leaving the EU, or voting to atleast. So, we sliced through the 1.10 level and as a result we have turned back around and bounced. Really at this point in time, I am looking for short-term rallies that show signs of exhaustion in order to be selling opportunities as this market continues to drop. Now there is a lot of concern as to whether or not other referendums will appear.
GBP/USD — The pound of course got absolutely pounded, but there is a bit of a revaluation going on and it makes sense. I am looking for exhaustion after short-term rally, because we will probably get a pretty nasty bounce and continue to sell as this market is going to continue to drop down to 1.30 handle or so.
© Prabhu for Forex Videos, 2016. |
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Post tags: EUR/USD, GBP/USD, technical analysis
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