AFTERNOON MARKET UPDATE

Hello,

The GBPJPY is wrapped in a range-bound triangle and I suggest a NO-Trade until we have a good break-out and volatility to make a trade. THe trend is still Bearish

EURUSD broke my BULLISH trendline and looking forward to a recovery in the medium term. I still believe in a NO-Trade till the Resistant line is convincingly turned to a support line. The trend is still bearish

GBPUSD remain bearish following the last bounce from my resistant line and a good bounce from the upper band of the bollinger band. We need a good retracement to the upside before deciding a further down move.

The USDCAD responded sharply to the over-bought region after several hours of a range-bound price action to touch the 4hrs support line. It was a nice DIP. The trend is still bearish