02/11/2015 15:30 Update
GBP/USD 4-hour: Consolidating.
Invest Diva positioning: Long positions above 1.5271 with targets at 1.5368 and 1.5466 in extension.
Technical reasons why: The pair continues to consolidate around our pivot level while remaining above the Ichimoku’s cloud and could be in progress of forming a double top pattern. The RSI is also around the neutrality area.
Alternative Scenario: Below 1.5271 look for further downside towards 1.5150 and 1.5053.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.5150 | 1.5271 | 1.5466 |
| 1.5053 | 1.5368 |
NZD/USD 4-hour: Consolidating.
Invest Diva positioning: Short positions below 0.7341 with targets at 0.7220 and 0.7007 in extension.
Technical reasons why: The pair continues to consolidate between the key resistance level and the Ichimoku’s cloud showing a bearish sentiment. The RSI is slightly below the neutrality area.
Alternative Scenario: Above 0.7443 look for further upside towards 0.7597 and 0.7697.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7220 | 0.7443 | 0.7697 |
| 0.7007 | 0.7341 | 0.7597 |
