04 February 2010

GBP/USD : Waiting for Weekly Close Below 1.5854

  • The big chart point on the candle charts is 1.5705 on all time frames.
  • However, if one wanted to be more aggressive, then one should sell a weekly close (line chart) below 1.5854.
  • Last at 1.5892. Almost certainly the post NFP reaction will be the trigger, if at all.
  • Already have plenty of long risk aversion trades here. Absolutely no need to rush into this for me. For a change, I will do the right thing and wait for confirmation before jumping in.

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