EUR/JPY: 123.70 awaits
EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
GBP/USD: we are still selling
Information is not investment advice
GBP/USD is trading below the weekly pivot level at 1.2707. The pound is under pressure as the political future of the UK remains uncertain after Prime Minister announced that she would step down on June 7.
The pair formed a “dark cloud cover” pattern on the daily chart. It’s a sign that bears remain active and sell the pound on its attempts to correct higher. The sterling may retest the 78.6% Fibo level at 1.2625. The fall below the latter will open the way down for an even bigger decline to 1.25.
Elizabeth Belugina
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