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GBP/USD Outside Day Could Trigger Directional Move

GBP/USD Outside Day Could Trigger Directional Move

2015-10-22 19:16:00
Jamie Saettele, CMT, Sr. Technical Strategist
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GBP/USD Outside Day Could Trigger Directional Move

Chart Prepared by Jamie Saettele, CMT

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

-Today’s (10/22) outside day in GBP/USD may set the stage for resumption of the downtrend that began with the head and shoulders break in August.

-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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