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GBP/USD Small Range Key Reversal; Short Term Low In?

GBP/USD Small Range Key Reversal; Short Term Low In?

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

GBP/USD Small Range Key Reversal; Short Term Low In?

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Cable recently traded to its lowest level since March 2009. The January 2009 low is the next horizontal level of interest at 1.3501. Range expansion levels from the breakdown are 1.3718 (61.8%) and 1.3494 (100%). If the path of least resistance is lower, then resistance should reside near 1.4250.

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

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