Trade77; GBPUSD Hourly Channel 7pm

Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.

I mentioned a channel on GBPUSD today on twitter, now I want to analyze this channel:

You can see a channel and a daily trendline that I mentioned before.
Price exactly bounced off the beneath bond of the channel and going up. I expect it to go further up and reach that daily trendline.
So levels that we should watch are 1.5840 and 1.5860 and in case of going down before touching the daily trendline 1.5720 would be another retest of the beneath bond of the channel.
Now any trades are risky so wait for those support and resistant levels and break or bounce around them.

This is an updated chart of the Cable as I mentioned in twitter:

I will mention about any trades we can get near these levels.
Make sure that you are following me on twitter so you can be informed of any trade calls for this pair and if you found this post useful let your followers to read it too, so please retweet this article with the button above of the article.


  Copyright secured by Digiprove © 2010

The following two tabs change content below.
Winners Edge Trading was founded in 2009 and is working to create the most current and useful Forex information and training available on the internet.

Winner’s Edge Trading, as seen on:

Winner's Edge Trading in the news