Update on GBPUSD Pair – Bears take the reins !?!?!
Morning All,
Trust everyone had a pleasant weekend. To all our American follower, hope you all had a fantastic Independence Day on Saturday. Marks were very quite on Friday I wonder what this week has in store for us.
Looking at Cable (GBPUSD), we have seen the PAIR unable to break higher (1670 level) last week. Our Major UPTREND line came into play last week, We saw Price CLOSE below the trend-line and importantly close below this line. MACD is showing NEGATIVE, and RSI is telling me that the BEARS are in the driving seat. Price has also opened BELOW my Daily Pivot point. If by the end of today this is still trading below this line, then we should be looking at the Pair trading towards the next pivot line around 1.600 area which funny enough is where our 50 EMA line is (RED LINE) My strategy has informed me that there is a SELL signal today.
GBPUSD - Daily Setup Chart
This anaylsis is on a DAILY TIME FRAME. All of you who are looking to trade this PAIR intraday – Please make sure that you do your homework and look at 4hr/1hr/15min time frames to look for possible entry/exit positions
Here’s to a great day on the Markets today…. Trade Serenely !!!
PS- Don’t forget to follow Serene Traders on Twitter for up to min updates on trades during the course of the day. They are
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Serene Education Ltd Blog- This site has been moved!!! 28/07/2009Dear Serene Education followers and students. Please be advised that this blog site has now moved sites and has been replaced by www.SereneEducation.co.uk/blog. This is due to our new members site where we are able to offer you, our valued students more valuable benefits and educational experiences. Click HERE to be taken to the new site and ensure [...]
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