U.S. Markets closed

GBP/USD Channel Confluence in Focus on BoE

Jamie Saettele, CMT

Daily

GBP/USD Channel Confluence in Focus on BoE

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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


-“The next possible resistance is 1.6985 then the 2009 high at 1.7042.” A channel confluence is not far above 1.7042. Look into this area over the balance of the week with the understanding that the market could respond up there on BoE.


-1.6870 serves as the near term pivot.



LEVELS: 1.6760 1.6800 1.6850 | 1.6995 1.7042 1.7100

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


original source

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.