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GBP/USD Dumps from Channel Resistance

GBP/USD Dumps from Channel Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The most recent noted that “GBP/USD has taken out 1.4515, which supports a bullish interpretation based on the head and shoulders bottoming formation. Focus is towards 1.49 (trendline and 200 day average).” Today’s outside reversal warns of at least a return to re-test the neckline, which would be near 1.4350/60…if not outright failure.

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

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