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gbp-usd
Article
GBPUSD: Aim Below 1.60 as Prices Hit Second Target
Tuesday, 22 December 2009 03:44 GMT
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Previous Articles
Print
- Mar, 12 GBPUSD: Consolidation Continues Near 1.50 Figure
- Mar, 05 GBPUSD: Selling Stalls Below 1.50, Correction Possible Ahead
- Feb, 26 GBPUSD: Initial Objective Met, Targeting 1.50 From Here
- Feb, 19 GBPUSD: Channel Support Fading, Profit Target Ahead
- Feb, 12 GBPUSD: Remain Short as Prices Test Channel Support
- Feb, 05 GBPUSD: Short Position Taken on Break Below 1.58
- Jan, 29 GBPUSD: Prices Testing Key Support at Range, Channel Bottom
- Jan, 22 GBPUSD: Sellers Battle to Regain Momentum At 1.62
- Jan, 15 GBPUSD: Weekly Charts Hint Larger Upswing May Be Ahead
- Jan, 13 GBPUSD: Exit Short as Bullish Correction Gains Momentum
- Jan, 08 GBPUSD: Continued Weakness Seen as Channel Top Holds
- Dec, 11 GBPUSD: Stay Short as Prices Hit Initial Profit Target
- Dec, 07 GBPUSD: Remain Short as Bearish Momentum Returns
- Nov, 27 GBPUSD: British Pound Short Approches Profit Target
- Nov, 19 GBPUSD: Short Position Taken as Trend Line Support Gives Way
- Nov, 13 GBPUSD: Bullish Channel Threatened as Momentum Fades
- Oct, 30 GBPUSD: Outlook Clouded as Prices Search for Direction
- Oct, 23 Pound Short Stops Out At Break-Even as Resistance Falls
- Oct, 16 Pound Corrects Higher, Bias Remains Bearish
GBP/USD
Strategy: Short at 1.6648, Targeting 1.6132
Weekly Profit / Loss: +210 pips
Total Profit / Loss: +589 pips
We sold GBPUSD at 1.6648. The downtrend looks set to accelerate as prices take out the bottom of a near-term falling channel having surpassed our revised target at 1.6132. We will remain short, maintaining a stop-loss at the break-even point (1.6648) and aiming for 1.5802 from here.
To discuss these strategies with other traders, please visit the Candlestick Forum
To receive future articles by email, please contact Ilya at ispivak@dailyfx.com
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