EURUSD Pair broke 1.4083 support on the daily chart and have consolidation. Fibonacci extension 1.4000 has reached. The next is 1.3640. You can try to put sell stop order on the 1.3861 level, put stop-loss order above 1.4083 in this case. I recommend to use the tactic of re-entry.


GBPUSD . A pair is trading in the downstream channel. GBPUSD jumped upwards from the support zone and have consolidation. Target Fibonacci extension 1.5818 coincides with the support zone.  You can try to put sell stop order on the 1.5818 level, put stop-loss order above 1.6100 in this case. There are many false alarms possible during consolidation. It makes trading difficult. I recommend to use the tactic of re-entry.
 

Elena Chernaya, Chief Currency Strategist
ELAN Investment Solutions

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