Trading GBP/USD with L.Vereshchagin
GBPUSD Technical analysis from 14.11.2013 by Leonid Vereshchagin
Chart 1. Daily GBPUSD
There is a perfect SELL signal from the 1.6100 level (central levels of the 1.5900/1.6250 range). The price stays below the previous rising trend line support. Advice for long-term traders: enter the market with a lower Take Profit.
Optimal SELL-trade: 1.6065-1.6095 range
Stop Loss: 1.6270
Take Profit: 1.5913
Chart 2. H4 GBPUSD
We see a clear bearish channel on the H4 chart. Cable keeps printing lower highs and lower lows, confirming our bearish scenario.
Chart 3. H1 GBPUSD
On the H1 chart there is a chance to test the 1.6115 resistance.
Conclusions: SELL signals confirmed
Technical analysis by Leonid Vereshchagin
Independant FX trader, coach and analyst