Quick currency trading update: a short position for the EUR/USD. Today, a lot of things are going on that may influence this pair; ECB interest rate decision and monetary policy update. For the USD, a QoQ (personal consumption, measures price changes in consumer goods) (Q3). From a technical standpoint, the stochastics are in 'overbought' territory.
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A similar scenario seems to unfold with the GBP/USD;
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Also here the stochastic is in overbought territory. In my opinion, anything above 1.60 is too overbought and the increase in value has to do with the positive economic news coming from Great Britain recently. This rally may have caused the pair to be a little overbought. My entry: short 1.6380, SL: 1.6430 with a target of 1.6200.