GBP/USD Corrects From Overbought Levels

The GBP/USD corrected gains as expected but held above 1.3180 – so far. As stated in yesterday’s analysis we will pay attention to a break below 1.3170 that could see further losses towards 1.30 and 1.2950. A break above 1.3215, on the other side, could see another leg up towards 1.3350.

The EUR/USD trended towards 1.0960. Our short trade at 1.1020 with a profit target of 40 pips has thus proved profitable. A short-term resistance is seen at 1.1050.

Also, our yesterday’s long trade in the DAX at 14360 provided a good profit for bulls. Gains could be extended until 14800 – provided that the index remains above the 14000- threshold.

 

Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.

 

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