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GBP/USD Little Reaction to BoE; 1.6820 is the Pivot

May 8, 2014

Jamie Saettele, CMT

Daily

GBP/USD Little Reaction to BoE; 1.6820 is the Pivot



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



-"The next possible resistance is 1.6985 then the 2009 high at 1.7042." Cable remains capped by 1.6985 and an unorthodox channel. The trend is higher against 1.6820 although the complacency in the rate leaves it vulnerable to a surprise.



-1.6820 serves as the pivot.



LEVELS: 1.6841 1.6871 1.6918 | 1.6974 1.7042 1.7100

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




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Source: DailyFx