| Can the momentum continue? The USD is moving higher and the USDJPY and GBPUSD are breaking key areas. There is chatter about a debt deal possible today. Initial jobless claims and GDP were better. Stocks are higher thanks to Nvidia. The market is starting to price in a hike in June. All are helping the dollar move higher. The question is can the momentum continue? |
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GBPUSD stayed below a key hourly MA today and that gave sellers the go-ahead to push lower
2023-05-18
The GBPUSD moved below the 100 hour moving average late in the day yesterday after a break above a failed. In trading today in the Asian session, the high found the sellers against that moving average, and it gave the sellers the go-ahead to push to the downside. That move to the downside has taken the price below the low price from yesterday near 1.2421 and also below an old swing area on the daily chart between 1.24228 and 1.2447. If the sellers can stay below those levels, sellers can push down toward 1.2388 – 1.2397 area.
USDJPY buyers and seller square off as selling stalls. What now?
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The USD/JPY pair recently moved lower, breaching a target level on the downside. However, selling pressure subsided, resulting in a corrective upward correction. In this video, we examine what lies ahead for this currency pair.
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Watch these price levels and this scenario. For buy and holders and swing traders alike.
Visit ForexLive.com for additional views.
Trade USDILS at your own risk.
Nasdaq technical analysis update 21.02.2022
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