Dollar and yen are back under mild pressure as European stocks open slightly higher on positive earnings from Siemens AG and BASF SE. GBP/USD leads the way and breaks yesterday high, rises to as high as 1.5651 so far while EUR/USD continue to press 1.305 level. Yen crosses, as well

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Daily Report: Dollar and Yen Back Under Mild Pressure, Kiwi Recovers Mildly

GBP/USD 1.5611 Most recent candlesticks pattern : N/A Trend                                    Up Tenkan-Sen level                       :1.5605 Kijun-Sen level                        :1.5592 Ichimoku cloud top                     :1.5551 Ichimoku cloud bottom                 :1.5511 Original strategy : Buy at 1.5500, Target: 1.5640, Stop: 1.5450 New strategy    Buy at 1.5550, Target: 1.5660, Stop: 1.5500 Despite yesterday’s marginal rise to 1.5638, as the British pound has retreated

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Trade Idea: GBP/USD – Buy at 1.5550

In last Friday’s Weekly Technical Update, it was noted that the GBP/USD developed a positive reversal (when the RSI low is lower or equal, but the price low is higher). The swing projection to 1.5610 was projected.

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GBP/USD Hits Positive Reversal Target