GBP/USD Short Meets First Profit Target

| 14 maj, 2013 | 0 kommentarer

GBP/USD Technical Strategy: Short at 1.5536, Targeting Below 1.5195

Floating Profit / Loss: +220 pips

We entered short GBPUSD at 1.5533. Prices have now met our initial objective at 1.5385 and broken below support at the bottom of a rising channel set from mid-March. The next key downside barrier lines up in the 1.5195-1.5249 area, marked by the April 23 low and the 23.6% Fibonacci expansion. Risk/reward conditions argue against adding to the trade at current levels but we will remain short, looking for a drop through support to expose the 38.2% level at 1.5029. The stop-loss has been adjusted to the breakeven level.

Forex_Strategy_GBPUSD_Short_Meets_First_Profit_Target_body_Picture_5.png, GBP/USD Short Meets First Profit Target

Daily Chart – Created Using FXCM Marketscope 2.0

Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail [email protected]. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya’s e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

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 *