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. See our updated Privacy Policy here.

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
Subscribe
Please try again
More View more
GBP/USD Trading Around 200 Day Average

GBP/USD Trading Around 200 Day Average

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

GBP/USD Trading Around 200 Day Average

Chart Prepared by Jamie Saettele, CMT

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

-“After breaking above the line that extends off of the 2014 and 2015 highs, GBPUSD has reversed sharply. The move completes a head and shoulders top that’s been underway since May. The implications are bearish.”

-“GBPUSD has tested the underside of the neckline with today’s advance (9/17). If the bigger move is lower, then GBPUSD needs to roll over here.”

-“GBPUSD rolled over alright. If the larger trend is down then strength/consolidation from here will present another selling opportunity.” This is the strength/consolidation. The form that the pattern takes over the next week or so should prove useful in determining whether or not the broad move is still lower.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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

DISCLOSURES