Bias: There seems to be risk of the upside extending to 156.50-79 and potentially 157.48-67 before lower again
The structure here is less clear but does seem to suggest potential for a second test of the 157.48 high and max 157.67. While the 155.10 area supports I feel this more higher is supported. However, I feel we should run into a barrier again around the 157.48-67 area. Thus, any stronger bullish stance will require a break above 157.70 and only then would the upside extend further towards 158.24 at least. Then note resistance at 159.20 and 160.15.
19th August: I am just a little mixed - and maybe more bullish but much will depend on GBPUSD. To extend gains we'll need a break above the 157.50-86 resistance and if seen then look for gains to 160.23 initially and then back to the 163.03 high.
I still find this structure a little unclear but feel that the pivotal resistance is at 157.48-67. While this caps a break back below 155.10 would extend losses to 154.32-65 and if this breaks then expect extension of losses to the 153.46 low at least. Breach would open up risk to 151.56, 151.10 and 150.17.
20th August: Until the 157.48-67 area is broken we need keep in mind the risk of a second move lower back to the 153.46 low and then to 151.10-56 and 150.17.
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