GBP/USD daily |
|
The cable fell significantly after yesterday’s high 2.0146. The big question here is if the said fall is impulsive or corrective in nature. In fact it is still unclear if we have a 1-2-3 or A-B-C movement so to avoid any risk I move the stop loss of today’s short position below the entry level. A fall below 1.9969 followed by an acceleration of the down movement would be in favor of the impulsive scenario. On the other side a rise above 2.0037 would signal that the corrective scenario is
Filed under: Technical
Latest Posts
- The year-end high at 0.9805
- Euro should spend Q1 2009 getting used to current levels and consolidating between 1.2500 and 1.5000
- The biggest ever percentage quarterly fall
- $/yen, final new lows over next few weeks ?
- Why Non-Farm Payrolls Could Rebound in December
- Today’s Live Show: The USD Ahead of Non-Farm Payrolls
- GBP should recover in the next six months
- Chart of the Day - GBP/USD
- U.S Market Update
- Forex Trading: GBP/USD Moves Lower | Daily Markets
- The collapse in H2 2008 was so fast
- Dollar/Yen moves in the second half of last year were a bit bigger than we had expected
- The Bank of England cut rates today by 50 bps, to 1.50%
- Currency Currents
- Euroland: German industry in free fall
No Comments! Be The First!