This week sterling has dipped back below 1.3000 & is now testing SUPP 1.2900. The last week of June provided a strong close for the month and from a technical standpoint sterling has the potential to print higher prices throughout the month of July.
1.2900 could be the base in which the retracement holds and the uprise continues. The pair respected the 61.8% Fibonacci (1.2624) and the extension target zone is yet to be fulfilled.
Fib extensions lie around 1.3250 which coincide with weekly resistance - 2 confluences pointing towards our upside target.
1.2900 could be the base in which the retracement holds and the uprise continues. The pair respected the 61.8% Fibonacci (1.2624) and the extension target zone is yet to be fulfilled.
Fib extensions lie around 1.3250 which coincide with weekly resistance - 2 confluences pointing towards our upside target.