| GBP/USD - Bullish Trend Continuation Posted: 08 Oct 2010 09:04 AM PDT  Price action on GBP/USD (a 4-hour chart of which is shown) as of Friday (10/08/2010) has continued to adhere to a parallel uptrend channel extending back to the September lows around 1.5300. Price has just bounced up off the bottom of the channel on Friday, after having reached and slightly surpassed its original 1.6000 resistance target and then retreating on Thursday. For more technical analysis on this currency pair, please click here for Friday’s (10/08/2010) 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.
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