The GBP/USD today broke a important trendline in the daily chart. I am currently on the 30 min and 1 hour chart waiting for a pullback to enter. I would like to see a 50% retrace on the 30 min before I enter.

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for info... GC

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Thanks ciao. I never did pull the trigger..

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The 4 Hour trend-line was broken at 1.9800 in trade on Friday on last week. The pair came back to find support at the trendline with a solid test of 1.9735 The upside breaks are locked in at $2, and now a tight channel may form that will test the resolve of both Long and Short Cable traders. Watch for failures at 2.0030 to go Short, and bounces at 1.9700 to go Long (Maybe. No buy, sell or hold).

Short term trading prospects have been great as it is bouncing greatly up and down.

Watching the channel with a lot of interest, however. And The daily pivot point..

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oooppppssss
sorry posted on the wrong thread...

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1 for 1.92 pounds, I have not seen the dollar this strong in some time.
this is good I hope it continues.
a recent report on Fox news reported the dollar is getting stonger as oil falls.

1.876 even better.
AOL Travel Currency Converter

There is a misconception about a strong dollar. A strong dollar actually helps create a recession. When the dollar is low our products are cheap and affordable to other countries, when the dollar is high our products go up. A good side effect is when the dollar is high we have more tourist to the states..

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The only easy day- is yesterday

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I need to buy some stuff out of England so Im rooting for the dollar.
1 Pound = $1.83 come on $1.50

GBP/USD - British Pound Dollar
1,7267. GBP USD broke 1,7390 support. GBP USD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 4H, daily is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The price should find a support above 1,7135 (132 pips). If the support is broken then the target will be 1,6700 (567 pips).
We are waiting for a break of the support to take a short position.

Resistances

1,7390 - 1,7635

Supports

1,7200 - 1,7135

Forex Chart GBP/USD Support and Resistance

Attached Images

ggggggggggggg.jpg (21.2 KB, 3 views)

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The only easy day- is yesterday

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