Well finally a good bullish week, Sterling testing 1.5850 Friday morning at 10:15 A.M. est. was a good sign that the bulls are in for a long-term move. Technically the trend is heading into alot of resistance, on the longer time frames of the trading platform we are approaching the higher number moving averages and like the 200 moving average. So we have a bull Sterling, bullish counter-trend volume in progress. The Euro is in the same condition technically... Technically the Euro has less resistance.
Going into this week of the 17th, we have a High volume fundamental release 4:30 A.M. est. Tuesday for Sterling, if the Greenbacks fundamentals continue to be weak, which is likely, Sterling will be testing 1.6000, natural resistance should be expected triple zero's (quarter point theory as well)....
A bullish Sterling finds support above 1.5792.... Sterling closed Friday at 1.5806...Look for a bull move 1.5873-1.6000
Euro finds support at 1.3831 for bullish trend, Euro closed Friday at 1.3877, so technically the Euro bull is trending stronger.. Natural resistance at 1.4000 should be expected triple zero's (quarter point theory as well)...Look for a bull move 1.3937-1.3999
Ok, bearish trend volume for Sterling (which I don't see), would be dropping to 1.5742 if Sterling breaks down more it could hit, 1.5711, breaking 1.5700 would mean a drop too 1.5664...
Ok, bearish trend volume for Euro (which again I don't see technically), would be dropping to 1.3766 if that bid price drops it could fall to 1.3725, falling below 1.3700 it may find support at 1.3663..
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Thank you for your time and have a great day...
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