Short Traders Profit

Finally, we saw the long-awaited correction from overbought levels in both EUR/USD and GBP/USD.

The cable broke below 1.2550 and slid almost 100 pips toward 1.2450. The price area around 1.2550 could now serve as a resistance while we expect a deeper dive towards 1.2410. Bears will pay attention to a significant break below 1.2380 that could send the pair tumbling toward 1.20.

The euro tested the support area between 1.0650 and 1.06. If 1.06 breaks significantly to the downside, we could see the euro settling at lower levels between 1.06 and 1.0450. Euro bulls on the other side will watch out for a renewed break above 1.0760.

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EUR/USD

Long @ 1.0685

Short @ 1.0640

GBP/USD

Long @ 1.2525

Short @ 1.2440

 

Monthly results 2022:

May 2022: +172 pips

April 2022: +111 pips

March 2022: +689 pips

February 2022: +531 pips

January 2022: +766 pips

 

Results 2021:

December 2021: +61 pips

November 2021: +452 pips

October 2021: +165 pips

September 2021: +578 pips

August 2021: +135 pips

July 2021: +34 pips

June 2021: +264 pips

May 2021: +528 pips

April 2021: +278 pips

March 2021: +45 pips

February 2021: +42 pips

January 2021: +472 pips

 

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