The Pound
has been weakening versus most of its main counterparts, but today it
accelerates its bearish momentum versus the Yen and it keeps breaking round
number levels. So far the pair has fallen more than 400 pips during today’s
session and reaches a low at the 185.00 level. When the market is trending
strongly, the best thing to do is to wait for the pullbacks to enter in the
direction of the main trend or impulse. The 185.00 level may act as support,
but the bearish momentum is still in place and the price may try to break it
and go visit its next round number support level at the 184.00.
Let's see whether it'll be able to break below 185.00.
ReplyDeleteDownside trend continues, 185.00 level could be a important support.
ReplyDeleteExcellent information. Big movement!
ReplyDeleteBig drop on the currency.
ReplyDeleteGood point! I'll keep an eye on it.
ReplyDeleteInteresting read, thanks.
ReplyDeleteIn fact it's incredible drop!
ReplyDeleteGreat analysis, thank you.
ReplyDeleteExcellent analysis.
ReplyDelete