Hi All. New month started and I am holding an open position: sold USDCAD at 1.3124 with stop at 1.3235 and initial target 1.27. I would like to focus on 2 pairs (I will not talk about EURUSD - I spoke about it a lot lately and it can be found in last month thread with charts - we bounced back from the trend line/support area of 1.2050-1.2100 and now it may be a beginning of renewed up trend. Will see). I will post today about GBPUSD and USDCHF. GBPUSD Last month when we retested the 1.8500-1.8600 area (23 and 24th of March), I posted a similar chart and said that area was very important because there were 3 selloffs of that area and I questioned whether we would break the resistance that time. Well, now its the very same question, and the fact that lately we got the 4th selloff means that its a very important area indeed. Cable is trading at 1.8465/70 the moment I am typing and it has just retested the area above 1.85 with followed selloff. This is a crucial moment in my opinion, and if we see a sustained break above 1.85-1.86, its a clear signal market is on its way for 1.90-1.91. I think that even if we close the price above 1.84 this week it may still be a good sign market will break that level. I don't know exactly, but I will be looking at the market earlier next week and will post what I think. I am saying that if we break upside, entering longs (for me, possibly only next week) is the scenario after finding good entry. If we do not break but we still stay close, it may still be an option. That is in case there will be no strong selloff and market will show signs of strong upside potential. At the moment we saw a minor selloff coming from areas above 1.85, and it only means there were not enough buyers there, and maybe selloff was caused only by profit taking. We will see how it goes and we act accordingly. For now we watch.