Oct 6, 2010

FX Path

FX Path


GBP/USD - Respect of Uptrend

Posted: 06 Oct 2010 11:05 AM PDT

Price action on GBP/USD (a 4-hour chart of which is shown) as of Wednesday (10/06/2010) has been adhering to a rough parallel uptrend channel since mid-September after pivoting off the lows around 1.5300 in early September. Within this uptrend channel, a clear upside resistance target currently resides in the key 1.6000 price region. For more technical analysis on this currency pair, please click here for Wednesday’s (10/06/2010) 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.
* For information on my new book, Essentials of Technical Analysis for Financial Markets (Wiley), please click here.


No comments:

Post a Comment