GBP crosses/Technical Analysis

Congrats to all those cable bears

gbpusd1d     There were plenty of you I know who were selling cable on the approach to 1.6300 in expectation that resistance levels would hold and I hope you were all able to maintain your patience. From a technical perspective, the range-traders are completely in control here and a move lower to test base levels at 1.5250 looks possible in the medium-term. The risk-reward trade for bears certainly looks compelling.

  1. Sean, accept my sincere congratulations on coming Christmas and New year! I hope 2013 will bring good luck and good profit! On the purpose of pound I agree, I consider the area 1.52, I wrote about the strategy of work on pound earlier. Successes to you!

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