Here’s a daily chart of Cable:
GBPUSD daily chart 7-13-2011
As you can see in the daily chart above, we have a nice reversal candle formed yesterday, closing just a few points below former support at 1.5950. I think that a break above this level in the next sessions would be a good buying opportunity with an initial target around 1.61 where next resistance resides. Actually there are two potential entries I am considering: one being on break above 1.5950 and one on the intraday pullback towards 1.5870/00.
Will post an update in the next days
Cheers!
Other Articles You Might Enjoy:
Bought @ 1.5955, closed 1 lot at 1.6050 and moved the sl to Entry. Thank you Liviu you are a gem!!!!!! ;)
yeah, it was a great setup and still is. Anyway, I hope you're doing your own research there and don't follow others (like me for example)^_^
"Anyway, I hope you're doing your own research there and don't follow others (like me for example)"
Yep, I always do my own analysis before checking elsewhere. Never blind copy anybody. ;)
that's the spirit ;)
Pingback: Dollar Hammered on Bernanke’s Testimony, QE3 On The Table | FX Trading Blog - innerfx.com