NEW YORK (TheStreet) -- We remain bullish biased on the GBPUSD and we will continue looking for a buy signal to get long. There's near-term support between 1.5535 and 1.5465, and we can look for buy signals there this week if price rotates lower. We may also see a bullish fakey signal form following Friday's inside bar pattern, this could also be an opportunity to get long. We aren't expecting huge movement here, but buying the dips (rotations lower) has been working lately and that remains our strategy of choice in the coming days.
Dollar-Yen Uptrend Continues
The USDJPY bullish trend remains intact and we are looking for evidence it initiate a long entry. Price is currently down near support and will probably show its hand early this week. We see two inside bars pattern that formed late last week, these could see a false break to the downside and possibly form a bullish fakey buy signal. Watch the daily and four-hour chart for obvious buy signals.
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