Today’s London forex session was one where hunting out the trades was the order of the day, with the British pound continuing to remain very choppy and volatile with renewed uncertainty over Brexit driving the currency. The Quantum Trading volatility indicator was much in evidence in this session as the London session got underway. Even so, some great VPA lessons on the fast charts for the GBP/USD.
For Europe and the euro yesterday’s dovish comments from Draghi once again drove the euro lower on the day, but in this morning’s session there was an excellent bullish intraday opportunity on the EUR/JPY clearly signalled on the currency strength indicator, but now reaching a potential reversal with the euro reaching an overbought condition, and the Japanese yen, equally overbought. As always, support and resistance levels play a key role in volume price analysis, and this was confirmed on the EUR/JPY 30m chart along with the Camarilla levels indicator.