18 February 2014

GBP/USD : Long @ 1.6666

  • Missed buying this on the first break of 1.6666 due to Copper and USD/CAD positions under water.
  • Trade : Jan 2014 UK inflation data below BOE target = cable weakness. Taken the opportunity to establish fresh long position at 1.6666.
  • Monthly : Upside triangle breakout of large consolidation zone (although not in the conventional continuation sense). Next significant chartpoints are 1.6746 and 1.7042. Increase long on break of 1.6746 (which would be 2nd time breaking).
  • Weekly : Uptrend intact.
  • Daily : As per weekly. Uptrend.