GBPUSD & GBPJPY

GBP USD broke 1.9800 support. GBP USD is in a range between 1.9735 and 1.9850. The price should find a support above 1.9730. If the support is broken then the target will be 1.9600.

GBP JPY is in a range between 204.15 and 205.80. The price should move around 204.15 – 206.50 .

US NEW HOME SALES REPORT

U.S. New Home Sales which is expected to come out at 523K. This report can move the market so we can try to trade it. 20 to 30 K deviation should be enough to move the market. If we get 499K or lower, SELL - USD/JPY, expecting a move of 35 pips. On the other hand, positive surprises have been doing better than negative surprises although I am not sure if it will be the case here this time. The most optimistic estimate is 570K. So if it comes out at 571K or higher, BUY- USD/JPY and look for 35 pips pips as well.