GBP/USD Dip is Corrective; Another Push Higher Soon?

| 23 december, 2013 | 0 kommentarer

Daily

eliottWaves_gbp-usd_body_Picture_9.png, GBP/USD Dip is Corrective; Another Push Higher Soon?

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

GBPUSD is doing what GBPUSD does. Since 12/10 the rate has traded to a YTD high, 3 week low, and another YTD high. The move to a new high on Wednesday is suspicious given the inability of EURUSD to attain a YTD high.

-Weekly action engulfs the prior 2 weeks already. We should at least be able to use this current week’s range as a point of reference to work from moving forward.

-Watch for support at 1.6260/75 and/or the trendline that extends off of the Jul and Nov lows.

Trading Strategy: Flat

LEVELS: 1.6216 1.6262/73 1.6328 | 1.6429 1.6500 1.6618

— Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

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Kategori: Analys från DailyFX

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