The British pound has broken lower against the U.S. dollar after rejecting the 1.34-hurdle. The cable is still trading within a bullish channel, at least as long as 1.33 holds. We therefore may see a run for 1.3420, provided that the pound remains above 1.3290.
The EUR/USD failed to show any signs of a sustained recovery Monday while the upward movement was limited to a high of 1.1744. As long as the euro holds above 1.1675 we may see a leg higher towards 1.1850. On the bottom side we will pay attention to lower supports at 1.16 and 1.1550.
This week we will see a slew of Bank of England speakers as well as ECB President Mario Draghi who is scheduled to speak in Frankfurt today at 13:00 UTC.
For sterling traders, the U.K. Services PMI due at 8:30 UTC might be of interest, followed by a speech of BoE member Cunliffe.
Daily Forex Signals:
Additional daily and long-term entries are available for subscribers.
View our daily signal alerts http://www.maimar.co/category/daily-signals/
Subscribe to our daily signal service http://www.maimar.co/signals/
We wish you good trades and many pips!
Any and all liability of the author is excluded.
Copyright © All Rights Reserved 2018 Maimar-FX.