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GBP/USD New High (again) and Pullback (again)

GBP/USD New High (again) and Pullback (again)

2014-04-28 17:03:00
Jamie Saettele, CMT, Sr. Technical Strategist
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GBP/USD New High (again) and Pullback (again)

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-If new GBPUSD highs are seen, then watch the line that extends off of the 3/31 and 4/10 highs (near 1.6985).

-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 that extends off of the November and February lows holds.

LEVELS: 1.6662 1.6727 1.6762 | 1.6845 1.6877 1.6986

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

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