GBP/USD Leaves Nasty Candle at Nearly 5 Year High
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-GBPUSD traded to a new high but closed near the low, leaving a long wick in the process. If new highs are seen then watch the line that extends off of the 3/31 and 4/10 highs.
-Upside momentum is 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 trendline holds.
LEVELS: 1.6565 1.6660 1.6729 | 1.6829 1.6877 1.6985
--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.