News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Bullish
Wall Street
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bullish
More View more
GBP/USD Dip is Corrective; Another Push Higher Soon?

GBP/USD Dip is Corrective; Another Push Higher Soon?

2013-12-23 17:43:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily

eliottWaves_gbp-usd_body_Picture_9.png, GBP/USD Dip is Corrective; Another Push Higher Soon?

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-GBPUSD is doing what GBPUSD does. Since 12/10 the rate has traded to a YTD high, 3 week low, and another YTD high. The move to a new high on Wednesday is suspicious given the inability of EURUSD to attain a YTD high.

-Weekly action engulfs the prior 2 weeks already. We should at least be able to use this current week’s range as a point of reference to work from moving forward.

-Watch for support at 1.6260/75 and/or the trendline that extends off of the Jul and Nov lows.

Trading Strategy: Flat

LEVELS: 1.6216 1.6262/73 1.6328 | 1.6429 1.6500 1.6618

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES