Resistance 3: 1.9750/60
Resistance 2: 1.9720
Resistance 1: 1.9680
Latest New York: 1.9612
Support 1: 1.9580
Support 2: 1.9550
Support 3: 1.9520
Toolbox provides another strong sell signal overnight, target is short is around the 1.9480/19500 area through the week. Surging oil prices helped EURO last week but a softer start is likely spilling over into GBP. Spillover weakness from EURO still likely all week. Continue to expect a lot of cross-trading. Aggressive traders can add to their open shorts anywhere under the 1.9650 area I think; if not short sell a rally into the 1.9650/80 area if you get it today.
Data due Tuesday: All times EASTERN (-5 GMT)
4:30am GBP BBA Mortgage Approvals
Analysis by: Forexpros.com written by Jason Alan Jankovsky
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.