Daily
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
–GBPUSD formed a small range (smaller than 10 day ATR) key reversal at the November 2012 low of 1.5826. Small range reversals have signaled tops in recent months.
-The next level of interest on the upside is the February high at 1.5878.
–10 day RSI has crosses through 75. Instances in recent years have warned of turns.
Trading Strategy: Waiting for either a setup at higher levels or a drop below 1.5680 to turn bearish.
LEVELS: 1.5615 1.5685 1.5755 | 1.5839 1.5878 1.5900