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Monday, June 8, 2009
GBPUSD and GBPJPY
GBPUSD has been following Friday's trendline down and has yet to get back to 1.5970, but now is threatening to break above the trendline. PA is slow, but it is Monday.
GBPJPY, after staying above Friday's trendline, following the NFP, has since taken a dive under the trendline, also below the 157, and then took a bounce off of the 156.50. One of the readers, joked with me about my affection for the psyche levels on the GBPJPY, well if you look at most of the S/R levels, 158, 157.50, 157, 156. 50, etc. on this pair, they are very reliable, more so than on any other pair.
EURUSD is still shying away from 1.40.
Of note, the AUDUSD is starting to form a wedge, with .8080 as resistance.
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