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GBP/USD Downtrend on Daily but at Support on the Weekly

GBP/USD Downtrend on Daily but at Support on the Weekly

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

GBP/USD Downtrend on Daily but at Support on the Weekly

Chart Prepared by Jamie Saettele, CMT

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

-GBP/USD is trading in a bearish channel on the daily but also just found big support on the weekly. Combine the long term level on the weekly with COT considerations, and GBP/USD may be ready to rocket higher. Risk is small on the downside (read more about Traits of Successful Traders here).

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

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