Currency Analyst since 2010

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. 

Trading signal

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

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