Aug 30 2018

Trade idea for the day

GBPUSD: After a steep surge, the pair has reached at its top of trend channel resistance. Slow Stochastic is at extreme overbought region, suggesting the prices to reverse.

Our Preference: – Sell at 1.3030

Target –1.2960

Stop loss – 1.3050

USDJPY: Slow Stochastic bearish divergence in overbought territory is indicating a intraday fall in USDJPY. The pair has already turned back after reaching the resistance zone at 111.80.

Our Preference: – Sell at 111.64

Target – 111.35

Stop loss – 111.82