GBPUSD – Larger Structure Trying to Build (4hr chart)
After holding the 52 handle 2x and starting a new impulsive bull leg, the pair stalled last week around 1.5550 before pulling back.
Bids stepped back in at the RRL (role reversal level) around 1.5437 and pushed the pair higher. ST this creates a pullback location for bulls, although the pair looks like it wants to attack 1.57.
Weak pullbacks into the RRL is a potential location to get long. Only a daily close below here negates my ST bullish bias.
EURJPY – RRL Holding for Now (4hr chart)
Last week we talked about being ST bearish on the EURJPY since it broke below the range structure support around 139-ish. After …