Cable H4 Chart
Cable D1 Chart
Above are GBP/USD chart in daily and 4 hour time frame. The pair found support at 1.6427 target (see previous post), which is the 50% retracement of BC (purple dash Fibo). The trend is not clear although I still hope that the pair will at least reach the neckline. I plan to sell if it goes to the resistance are (risk area) or if the pair closed below 1.6427 in 4 hour chart. Have a nice day guys.
Above is USD/JPY 4 hour chart. The pair resumed the downtrend until 90.2 before retracing as high as 91.63 today. As we can see from the chart, there seems to be a breakout of its retracement channel. The pattern almost identical with prior retracement. There is still some room above to 91.75 - 92.11 area, which are 50% and 61.8% Fibonacci retracement respectively. Meanwhile, I believe that 90.20 support will be though to break. Nevertheless, I already shorted the pair at 90.97 for 60 pips. Wish me luck!
