GBP/USD Breaks Channel Support

| 14 maj, 2013 | 0 kommentarer

Daily Bars

eliottWaves_gbp-usd_body_gbpusd.png, GBP/USD Breaks Channel Support

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: The GBPUSD is clear cut here…the drop below channel support reinforces recent comments – “There is no certainty in market analysis or trading but this is a perfect place for a top. The 50% retracement of the decline from the January high, channel resistance and internal trendline that dates to September 2012 are a formidable barrier. When considering the break of the 4 year triangle (red line on chart is former triangle support) in February, it is possible that an incredibly important top is in place at the May 1 high. Even if a top of importance is in place, there will be bounces along the way…especially in the early going.” With weakness below 1.5320, look towards 1.5220.

FOREX Trading Strategy: Stay short, move stop on all to 1.5460, increase position on strength into 1.5330/85, decrease position at 1.5220.

LEVELS: 1.5075 1.5127 1.5218 1.5330 1.5385 1.5451

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

Din e-postadress kommer inte publiceras. Obligatoriska fält är märkta *