Longer-term Short GBP/USD / Shorter-term long

October 11, 2011 2 Comments

The GBP/USD has begun its decent for at least the next six months or longer. It recently took out two substantial levels of support at 1.5345 (from 12/28/2010) and 1.5295 (9/7/2010). Now that those levels of support have been taken out, my system is indicating that the GBP/USD should retrace back to around 1.5990 over the next month or so. Look for opportunities to go long on the GBP/USD up to the 1.5990 area, and then short the GBP/USD around 1.5990.

Happy trading!

LattePIPs

Filed under Trade Recommendations

2 Responses to Longer-term Short GBP/USD / Shorter-term long

  1. Pingback: GBP/USD Moving as expected – Positive 740 PIPs in two trades « LattePIPs

  2. Pingback: GBP/USD beginning short-term reversal « LattePIPs

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