GBP/USD Daily Video, July 08, 2015

[Sive Morten]

Good morning,

GBP has dropped but not fatal yet, in fact, it stands that the edge:





The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.

 

[Brett Reynolds]

I am still long on Cable but have cut back my position as it has dropped. My final stop is at 1.5290..right at the edge of the harmonic swing you show on the chart. I also have market now at a support at 1.5390. The Chancellor will deliver the first 'new Budget' since the election in an hour or so. We could get a strong reaction here at this support if market sees this budget as Bullish for Cable. I will be watching for PA here either way..but i am NOT hopeful...but you 'never know'!?