Live Currency Rates
 
  Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

GBP/USD Trendline Break Opens Up 2012 Lows  Join our daily free Newsletter

MENAFN - DailyFX - 19/02/2013

No. of Ratings : 0
Add to Mixx!


 


Weekly Bars

eliottWaves_gbp-usd_body_gbpusd.png, GBP/USD Trendline Break Opens Up 2012 Lows

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

FOREXAnalysis: The 4 year trendline is broken and focus is on the 2012 low at 15232…and potentially much lower. The short term trend is considered down as long as price is below the Monday high of 15508. Exceeding that level could trip stops up to 15570/80. Given the significance of the trendline break, one should be aggressive with objectives. The downward sloping channel is a potential reference point and measured levels don’t begin until the mid-14000s.

FOREX Trading Strategy: I wrote last update (on the 14th) that “I’d rather sell a break of a 4 year trendline than fade it. 15530/80 is resistance and the break is valid against 15690. I’m unlikely to entertain anything bullish until March.” Short term traders may wish to move risk down to 15510. Exceeding that level may offer up the next sale at 15570/80.

LEVELS: 15232 15307 15392 15508 15578 15627


 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help