GBPUSD (Cable) remains bullish
GBPUSD (Cable) continues to grind higher after shaking off the recent sell-off from the beginning of the month. The latest move has met bids after bouncing off the latest support at 1.3480. 1.3550 is the first hurdle and its breach would make the pair retest the recent high above 1.3700. Otherwise, a fall below 1.3450 would trigger a new round of sell-off below 1.3400.
USDCHF finding support
The US dollar fell from its recent high as sentiment continues to shift against the greenback. Following a pop above the psychological level of 0.8000, a brief pullback was contained as bulls look to hold their nerve. A break above 0.7950 would signal that buyers have regained control of the price action, opening the door to 0.8020, which lies just under the recent peak. On the downside, 0.7900 is crucial in maintaining any rebound.
GER 40 ticking higher
The DAX was another index that was recently boosted by a surge in stocks. The price action continues to capitalise on its break above the psychological level of 24000. The support-turned-resistance at 24600, the top of the recent peak, could be the sellers’ last stronghold, as its breach would signal a bullish continuation. As the RSI moves back into the neutral area, 23800 serves as a critical floor to maintain the upward momentum.
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