GBP/USD Breaks Lower after Inside Day

| 16 april, 2013 | 0 kommentarer

Daily Bars

eliottWaves_gbp-usd_body_gbpusd.png, GBP/USD Breaks Lower after Inside Day

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

FOREXAnalysis: The GBPUSD hasn’t quite reached previously mentioned levels of interest, which include 1.5460 (2 equal legs from the low), 1.5500 (top of former congestion) and 1.5605 (50% retracement). Viewed in the context of the bearish break from a 4 year triangle in February, we should be looking to align with the downtrend after a month of gains. Friday’s inside day setup was resolved to the downside which offers a level (1.5411) to operate from the bearish side. Resistance is 1.5330.

FOREX Trading Strategy: Order to short at 1.5330, stop 1.5415, targets 1.4910 and open. EURGBP characteristics are bearish GBP.

LEVELS: 1.4900 1.5067 1.5204 1.5330 1.5384 1.5461

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 *