Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account

Resources

GBP/USD Inside Day Unfolds after GDP

By , Sr. Technical Strategist
30 April 2014 23:27 GMT

Daily

GBP/USD Inside Day Unfolds after GDP

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-GBPUSD has traded into the November 2009 high. The next possible resistance is 1.6985 then the 2009 high at 1.7042. Is GBP leading or lagging (USD is not at lows against other major currencies).

-Upside momentum is (still) pathetic (RSI hasn’t been above 70 since October so this doesn’t even feel like a bull) but respect upside as long as the rate is above 1.6762.

LEVELS: 1.6785 1.6800 1.6841 | 1.6900 1.6986 1.7042

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

provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from

30 April 2014 23:27 GMT