News Column

GBP/USD 1.6800/20 is Support

May 1, 2014

Jamie Saettele, CMT

Daily

GBP/USD 1.6800/20 is Support



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



-GBPUSD has traded into the November 2009 high. The next possible resistance is 1.6985 then the 2009 high at 1.7042. Is GBP leading or lagging (USD is not at lows against other major currencies).



-RSI (daily) finished at 70 today for the first time since October. The most recent breakout level is now support at 1.6800/20.



LEVELS: 1.6800 1.6841 1.6871 | 1.6907 1.6986 1.7042

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.




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Source: DailyFx


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