01 March 2011

GBP/USD : Bullish Signals

  • Like the short USD/CAD trade, long Cable has not been an easy ride thus far. But early signs of reward coming this way now.
  • Monthly : Triangle breakout, but in the reversal direction, not the usual continuation. Still valid however albeit unconventional.
  • Weekly : Looks like finally punching clear of 1.6299 tough resistance.
  • Daily : Same as weekly, clearing 1.6277 resistance.
  • Already long. Sitting tight. (Last 1.6315).

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