Trade Updates in GBP/USD and more for 03/15/2013


GBPUSD longs from Tuesday (1.4877 entry) were exited this morning at 1.5160 (released via Twitter @JamieSaettele). I remain bullish but am looking to buy weakness. Support begins at 1.5077 but is probably strongest near 1.4980-1.5000. Looking to buy again at 1.4980-1.5000.

The EURUSD exceeded 1.3064, turning me bullish. Expect support from 1.3008/32 if reached but I don't want to get too 'cute' here when I expect a rally back to 1.3400 or more. I'm long at the market (1.3080) with a 1.2905 stop.

EURSEK has staged a dramatic reversal in recent days. The plan here is to buy weakness into the 50%-61.8% retracement of the rally from Wednesday's low (8.2549). The retracement levels are 8.3080 and 8.3245.

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for

To contact Jamie e-mail Follow me on Twitter for real time updates @JamieSaettele

Subscribe to Jamie Saettele's distribution list in order to receive actionable FX trading strategy delivered to your inbox.

Jamie is the author of Sentiment in the Forex Market.

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 (0)