U.S. Markets open in 7 hrs 15 mins

GBP/USD Registers Best Daily Close Since November 2009

Jamie Saettele, CMT


eliottWaves_gbp-usd_body_Picture_9.png, GBP/USD Registers Best Daily Close Since November 2009

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-GBPUSD closed at its best level in nearly 5 years today. The line that extends off of the 3/31 and 4/10 highs crosses the November 2009 high tomorrow just shy of 1.6900.

-Upside momentum is pathetic (RSI hasn’t been above 70 since October so this doesn’t even feel like a bull) but respect upside as long as the trendline holds.

LEVELS: 1.6565 1.6660 1.6729 | 1.6822 1.6877 1.6985

--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.