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GBP/USD Daily Wicks at Trendline Warn of Turn Lower

GBP/USD Daily Wicks at Trendline Warn of Turn Lower

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

GBP/USD Daily Wicks at Trendline Warn of Turn Lower

Chart Prepared by Jamie Saettele, CMT

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

-Long wicks on the daily at a trendline indicate potential for near term (at least) weakness.

-Previous comments remain valid. “Since completing a head and shoulders top in August, GBP/USD has endured 3 decent swings within a relatively well-defined range. Support from the multi-month structure does continue to hold (last support identified this latest low) so a break above the short term trendline (testing now) could result in upside acceleration.”

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

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