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GBP/USD Trades Between 20 and 200 Day Averages

Jamie Saettele, CMT

DailyFX.com -

Daily

GBP/USD Trades Between 20 and 200 Day Averages
GBP/USD Trades Between 20 and 200 Day Averages

Chart Prepared by Jamie Saettele, CMT

Automate trades with Mirror Trader and see ideas on other USD crosses

-After breaking above the line that extends off of the 2014 and 2015 highs, GBPUSD has reversed sharply. The move completes a head and shoulders top that’s been underway since May. The implications are bearish. Watch for resistance from former support lines in the 1.5500-1.5550 zone.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk


original source

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