Last Sunday, we wrote “We are always in our range 1.60/1.67 and we may stay a little while at least while we are in- above 1.60 and 5980 “only this week, parity is out of its range in 5980, ending 5958 on Friday night.
The financial situation of Greece, would contagious for the pound sterling? We asked. It is true that UK statistics are not very good but they are not worse than E- U. However, this week, there is a risk that the book left down to 1.55, if we can not quickly return- above 1.60.
However, remember that in early July, we will have a further meeting of the Bank of England and the British pound should normally be supported at the approach of this event.
Graphically, the daily MACD is still bearish and without a rebound in the current points with a return of 1.60 and 6080, the parity could return to 5880 and 5820. And as long as the daily MACD is bearish, it will benefit from the rebound in 6050 for new low points.
In over 6050/80, while the parity would be in the range for 6180/6220.
The area of 5880/20 we will offer point of purchase for a possible rebound.
Our advice for the week, we remain bearish in 6050 and buyer- above.
We sell 6050 for 5920/5820
We buy for 6050/6150 6250/6380/6450
We buy for 5880/5820 5980/6020/6050