If GBPUSD is going to squeeze higher 1.5179 needs to give way above.
Written February 26, 2010 at 10:23 AM EST by Greg Michalowski
It is always tempting to try a bottom but in order to do it, you need something to lean against and some targets to get through. The 1.5162 level in the 5 minute chart above gives a bottom formation at 1.5162, but the 1.5179 level needs to breached on the topside. From there a move to 1.5205 ish could be expected but beware. The bias is still bearish so be careful.
Categories: Forex Trading | Tags: GBP/USD
(Aug 30, 2010)
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