Considering how heavy the demand was on last week close, even if it did got absorbed some, I expect more absorption to happens, so more test of the 1.398 area. From which I would look for a sell entry when demand is weakening, and I will enter a sell position with a tight stop loss. And if it does reach 1.398 and show signs of demand weakening, a break under 1.392 on heavy supply would make me aim at 1.38 as next area. UPDATE COMING IN MORNING



more…

See also  GBP-USD First Up Then Down! Sell! for FX:GBPUSD by TopTradingSignals