My view on the GBPUSD is as follows - "The GBPUSD continues to hold its support line on the daily and has formed a base from which to work higher. With 5 waves down from near 15500, I favor additional strength. 14720 is initial resistance."
With respect to my trading however, I am looking at shorting the AUDUSD near current levels (after being stopped out last night) so stay tuned to the DailyFX Forex Stream for details.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Forex trading involves risk. Losses can exceed deposits. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.
FX Publications Inc (dba DailyFX) is registered with the Commodities Futures Trading Commission as a Guaranteed Introducing Broker and is a member of the National Futures Association (ID# 0517400). Registered Address: 32 Old Slip, Suite 803; New York, NY 10005.