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GBP/USD October Lows Pressed Again, First Hurdle at 1.2300

GBP/USD October Lows Pressed Again, First Hurdle at 1.2300

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

GBP/USD October Lows Pressed Again, First Hurdle at 1.2300

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-I thought Cable was turning up for a test of the mid-1.2500s. Guess not. Towards the end of trading (2 hours left) on Tuesday, GBP/USD is confined to a narrow range and just above the October lows (post-crash). Given this level and the daily doji, I’m looking for a turn higher.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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