Aug 12, 2010

FX Path

FX Path

GBP/USD - Continued Bearishness off 1.60

Posted: 12 Aug 2010 08:38 AM PDT

Price action on GBP/USD (a 4-hour chart of which is shown) as of Thursday (8/12/2010) has continued this week's precipitous drop from 1.6000 resistance and has approached key support in the 1.5550 price region once again, establishing close to a two-week low. For more technical analysis on this currency pair, please click here for Thursday’s (8/12/2010) 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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