Today's Support and Resistance Levels:
R3: 141.77
R2: 141.49
R1: 141.29
Current Spot: 141.25
S1: 140.92
S2: 140.60
S3: 140.32
Technical Summary:
With the break below support at 141.34 we knew that red wave ii was in place at 141.85 (just below the ideal target at 141.92). Short term I will be looking for resistance at 141.49 to protect the upside for a break below support at 140.92 which confirms a continuation lower towards 137.64 and perhaps even lower towards 136.65 as the powerful red wave iii extends lower.
Longer term I'm looking for a major correction towards 125.99.
Today's Support and Resistance Levels:
R3: 1.6334
R2: 1.6307
R1: 1.6284
Current Spot: 1.6263
S1: 1.6238
S2: 1.6190
S3: 1.6129
Technical Summary:
The correction I expected would end at 1.6310 became slightly more complex and ended at 1.6334. However, short term I'm looking for minor resistance at 1.6284 to protect the upside for the next decline towards 1.6129 and perhaps even lower towards 1.6049 to end wave (v) and iii. Once wave iii is in place look for a complex correction in wave iv towards 1.6315 and likely even higher to 1.6431 before the last impulsive decline towards the ideal target at 1.5793.
Hi EWS,
ReplyDeletewould be possible an update for GBP / USD and GBP / CAD.
Thanks in advance