GBP/USD Focus is on Selling above 1.6000

| 11 oktober, 2013 | 0 kommentarer

4Hour

eliottWaves_gbp-usd_1_body_gbpusd.png, GBP/USD Focus is on Selling above 1.6000

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-The Jan 2nd close at 1.6252 nailed the high so far, which came in at 1.6259. Resistance is reinforced by a 4 year resistance line.

-A key reversal week (new high and close below prior close) unfolded last week and EURGBP (see 2 Friday’s ago) technicals are favorable for a more important top forming in GBPUSD.

-A head and shoulders top has been confirmed. Underside of the neckline (red) is now estimated resistance along with former lows from 1.6000-1.6030.

Trading Strategy: Market has found a trendline and channel support confluence. This is a good place for a rally to begin. Looking to short 1.6030 with a 1.6075 stop. Target areas are 1.5715/50 and 1.5605. GBPAUD and GBPNZD shorts at 1.6950 and 1.9300 have been triggered. Stops are moved to 1.6960 and 1.9360. I’m in this for a break and am not setting hard limits just yet.

LEVELS: 1.5840 1.5875/85 1.5940 | 1.5985 1.6005 1.6031

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

E-postadressen publiceras inte. Obligatoriska fält är märkta *