While many FX pairs have remain range-bound for the best week (a common occurrence during the summer), the S&P 500
has gained in bullish
momentum since the Brexit news was released. Traders who bought at bargain prices after the Brexit induced drop and longer-term investors who see U.S. equities as a relatively safe haven have lifted the S&P 500
to such an extent that it is time to look for long entries after a pullback to the general bullish trend
. Technical levels from 2105 to 2110 are looking like prime candidates for such a trade.