13 May 2013

GBP/USD : Is it time?

  • Monthly : Triangle downside break from Feb still valid.
  • Weekly : Back into old sideways range, but do not rule out another stab at the downside.
  • Daily : Bear flag price action since mid Mar. Looks like breaking down now for another leg down.
  • Trade : Short at 1.5355. Cheap trade. Cut loss if bear flag break doesn't perform. This should be evident fairly quickly.

No comments: