GBP/USD Tests 2/11 Close Ahead of Inflation Report

DailyFX

Daily

View photo

.
eliottWaves_gbp-usd_body_Picture_9.png, GBP/USD Tests 2/11 Close Ahead of Inflation Report

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-A larger top may be unfolding but it’s too early to tell. To review, a large outside unfolded on 1/24. GBPUSD traded lower but held former resistance from the October high and has returned to test the 1/24 close.

-Minor support is seen at 1.6400 with potentially stronger support at 1.6308.

LEVELS: 1.6308 1.6348 1.6402 | 1.6495 1.6578 1.6628

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

View Comments (1)