EUR/USD
We do see a reversal pattern for the current uptrend on the EURUSD. The pair made a double top near the resistance level 1.3400 before continuing to drop dropping 80 pips. On the HI chart we can safely say the uptrend ended as we trading is currently below the 55 period exponential moving average.
U.S. data due out this week include retail sales and housing starts for July. Also, Atlanta Federal Reserve Bank President Dennis Lockhart and St. Louis Fed President James Bullard are each scheduled to speak
Res: 1.3435, 1.3415, 1.3400, 1.3365
Sup: 1.3290, 1.3265, 1.3220, 1.3200
GBP/USD
As the euro, we see a double top reversal pattern for the cable near the 1.5570 area and a subsequent drop of 80 pips. However it