DailyFX.com -

Daily

GBP/USD Breaks Near Term Downtrend; Lower Highs Below 1.6920

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“GBPUSD broke the line that extends off of the November and February lows. The development is the clearest signal yet that an important top is in place.” Today’s development (exceeding 1.3845) muddles the picture.

-Near term trend is best described as sideways with reaction levels at 1.6881 and 1.6716.

LEVELS: 1.6716 1.6787 1.6804 | 1.6880 1.6920 1.6974

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    GBP/USD: Greenback taking control - FXStreet

  2. Forex News

    GBP/USD turns around and recovers ground into the NY close

  3. Forex News

    GBP/USD Focus Shifts to 1.5300

  4. Forex News

    GBP/USD breaks trendline; More downside ahead?

  5. Forex News

    US Dollar and Japanese Yen on Target to Hit these Price Levels

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!