GBP/USD NFP Friday High May Present Short Opportunity

| 10 januari, 2014 | 0 kommentarer

Weekly

eliottWaves_gbp-usd_body_Picture_9.png, GBP/USD NFP Friday High May Present Short Opportunity

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

GBPUSD made an outside day reversal on 1/2 after poking above 1.6600. Since 2011, the market has reverted to the mean early in the year.

-Bigger picture, GBPUSD has broken above the line that extends off of the 2009 and 2011 highs. A significant breakout is possible but the mentioned outside day reversal along with a weekly key reversal last week warns of a top. Watch for resistance on Friday in the mid 1.6500s.

Trading Bias: Flat

LEVELS: 1.6315 1.6357 1.6403 | 1.6499 1.6552 1.6602

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

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Kategori: Analys från DailyFX

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