GBP/USD Outside Day Could Trigger Directional Move
22 Oct 2015 19:16, GMTDaily
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
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.