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GBP/USD in Trading No Man’s Land

GBP/USD in Trading No Man’s Land

Jamie Saettele, CMT, Sr. Technical Strategist

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Chart Prepared by Jamie Saettele, CMT

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

-GBP/USD is in a tight range and previous comments remain valid. “The 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. A break under 1.5200 (parallel support) would suggest that the next leg lower (towards the April low) is underway. Until then, Cable remains supported.”

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.

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