| GBP/USD - Strong and Steep Drop Posted: 29 Nov 2010 08:33 AM PST  Price action on GBP/USD (a 4-hour chart of which is shown) as of Monday (11/29/2010) has continued to display a strong and rapid bearish bias after having just established a fresh two-month low. This occurs after price action broke down last week below a key uptrend support line extending from the early September low, then broke down below an inverted pennant pattern. For more technical analysis on this currency pair, please click here for Monday’s (11/29/2010) 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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