Pound Dollar – GBP/USD rejected its 1.4000 key support level yesterday which could potentially lead price higher in the coming days. Traders who went long at the rejection of 1.3300–1.3270 support area as we recommended in our 13th December 2017 Market Outlook and those who went long at the breakout of 1.3620 resistance level as we recommended in our 9th January 2018 Market Outlook may consider scale in the position at this 1.4000 key support level to maximize the profit potential of this bullish trend.
Loonie Dollar – USD/CAD rejected its 1.2370 resistance level yesterday which could cause price to moves lower in the coming days. Since the trend is still bearish, traders may consider shorting this market to ride on the bearish trend. The next support level is located at 1.2070 support level which offer traders huge profit margin to trade the short side of the market.
Pound Yen – GBP/JPY rejected its 152.80 support level and also its bullish trend line which increase the odds of price rally higher in the coming days. Given that the trend is bullish at the moment, traders may consider buying into this market to jump on the bullish trend.