Technical:
- The Pair has found resistance at the 61.8 Daily Fib (Price: 11.224) and slight support/testing the 38.2% Weekly Fib (Price: 10.989).
o Looks like it will break that support.
- Looking to open short after strong daily close under the 38.2 Fib and Enter a moderate Short
o For active traders, Stack.1 will be a close below the 50.0% Daily Fib (Price: 10.90)
Fundamental
- GBP: CPI (YoY) release Tuesday, 16/5/17
- GBP: Average Earning Index + Bonus (Wednesday, 17/5/17)
- GBP: Unemployment Rate (Wednesday, 17/5/17)
- GBP: Retail Sales (MoM) (Thursday, 18/5/17)
Announcement wise the GBP will lead the pack with some core economic data coming out which will definitely test those support levels.
- The Pair has found resistance at the 61.8 Daily Fib (Price: 11.224) and slight support/testing the 38.2% Weekly Fib (Price: 10.989).
o Looks like it will break that support.
- Looking to open short after strong daily close under the 38.2 Fib and Enter a moderate Short
o For active traders, Stack.1 will be a close below the 50.0% Daily Fib (Price: 10.90)
Fundamental
- GBP: CPI (YoY) release Tuesday, 16/5/17
- GBP: Average Earning Index + Bonus (Wednesday, 17/5/17)
- GBP: Unemployment Rate (Wednesday, 17/5/17)
- GBP: Retail Sales (MoM) (Thursday, 18/5/17)
Announcement wise the GBP will lead the pack with some core economic data coming out which will definitely test those support levels.