GBP/USD Diagonal Line is Near 1.7100

By DailyFx | June 17, 2014 AAA

DailyFX.com -

Daily

GBP/USD Diagonal Line is Near 1.7100

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-After breaking the trendline that had held since November, GBPUSD ripped higher to find fresh highs. The 2009 high (and 2005 low) rests at 1.7042. The line that extends off of the February and May highs is now of interest near 1.7100.

LEVELS: 1.6844 1.6881 1.6920 | 1.6985 1.7042 1.7100

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

comments powered by Disqus
Related Forex Analysis
  1. USD/JPY desperate to move away from 107.00
    Forex News

    USD/JPY desperate to move away from 107.00

  2. US Dollar Technical Analysis: Readying to Resume Uptrend?
    Forex News

    US Dollar Technical Analysis: Readying to Resume Uptrend?

  3. GBP/USD goes nowhere ahead of retail sales report
    Forex News

    GBP/USD goes nowhere ahead of retail sales report

  4. EUR/JPY Technical Analysis: Former Resistance Now Support
    Forex News

    EUR/JPY Technical Analysis: Former Resistance Now Support

  5. GBP/JPY Technical Analysis: Pound Sold vs. Japanese Yen
    Forex News

    GBP/JPY Technical Analysis: Pound Sold vs. Japanese Yen

Trading Center