Thursday, October 4, 2012

GBPUSD Resistance Area

GBPUSD has moved higher along with EURUSD. It has bounced from the descending channel's down line. 

Its now eying next resistance area around 1.6185 and channel's upper line. I am looking to add to my short position close to 1.62.


myfxvoyage.blogspot.com GBPUSD M30
GBPUSD M30 Channel

 
Update on 05-Oct-2012 post NFP:
Spike post NFP went above the resistance area but got rejected by channel's upper's trendline.
I added to my short position on that spike (aproxx at 1.6195 & 1.62)
Currently price is at resistance area (marked with red). If it breaks below it, then it should accelerate the down move.

myfxvoyage.blogspot.com GBPUSD chart
GBPUSD M30





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