| GBP/USD - Continues Bullishness Targeting Double Bottom Peak Posted: 01 Apr 2010 09:07 AM PDT  Price action on GBP/USD, a daily chart of which is shown, has displayed five consecutive days of significantly bullish price bars following the double-test bounce off support just below 1.4800 late last week. In the process of this bullishness, price currently appears to be targeting resistance around the peak of the potential double-bottom formation, which resides in the 1.5380 price region. A strong breakout above that peak would confirm the double-bottom formation (a classic reversal pattern). For more technical analysis on this currency pair, please click here for Thursday’s (4/01/2010) Chart of the Day.
- James Chen, CTA, CMT * For information on my DVD set, High-Probability Trend Following in the Forex Market, please click here.
* For information on my book, Essentials of Foreign Exchange Trading (Wiley), please click here. 
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