Sep 03
Thursday
Analysis and forecastsIntra-day update on GBPUSD 09-03-09by Liviu
September 3, 2009 – 9:45 am GMT | Permalink | 4 Comments |
GBPUSD
I am currently into the long position initiated at 1.6310, on the hourly break of 1.6300 as indicated on my morning technical outlook report. The trade is going well as the market reached the 1.6375 resistance region fast after breaking 1.6300. While holding above 1.6300, odds favor further upside action especially on a break above 1.6375 which would be a solid bullish confirmation of the current structure. In case of a pullback towards today’s support zone into the 1.6300 region, I’ll close the current position at breakeven. Current exchange rate is 1.6348 @09:50 GMT
Support: 1.6300/10, 1.6250 and 1.6150
Resistance: 1.6375/80, 1.6450 and 1.6500
- GBPUSD hourly chart 09-03-09
Happy trading & a nice day to all of you!
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Post Tags: forex forecast, gbpusd, technical analysis, trading strategies
Sep 3, 2009, 9:52 am
I’m with you on this one but i just closed half on 60 since i could not resist the temptation :D
good luck to u too!
Sep 3, 2009, 9:59 am
Hi. I suspect that (potentially) breaking above 1.6375 will lead to the mother of all breakouts seen recently across the board :)
Probably everyone’s stop is above that level now (the sellers, of course)
Happy pipping!