William Trades: FX Week Starting: 05-08-2016

EURUSD: This euro level isn't incredibly clear, and could easily see a clean downmove through it. However, the rangebound nature of the euro at the moment keeps this pair on active watch. The zone to watch is 1.1210-1.1230.
Will be looking for a clean move below this level and subsequent failure to get long. Ideally looking for risk to be around 30-50 pips, and therefore be aiming for a move back to 1.13ish.

GBPUSD: Was a very hard reversal off the level last week. Based on the weakness it should lead to a test of support on the daily - however, that may be too bigger move for this week.
Zone of interest is 1.4000-1.4080. Given the wideness of the zone, may not be necessary for a fakeout, provided that there's an acceleration into the level.

GBPJPY: Level to watch for fakeout is 151.64. Given the nature of GBPJPY (bit more trendy, and wider range than most) want a little bit more confirmation of fakeout than I would with say the eurusd. The would come in the form of an acceleration through the level and clean reclaim of the level. Or a convincing rebound off the level.