Short-term Trading Idea FX GBP/USD – Wait and See: Likely Rebound From or Break Through Trend

Posted On 02 Nov 2015

Trading opportunities for currency pair: There’s no point rushing for the moment. The pound managed to return to the trend line on Friday using support from the euro/pound cross. Monday will be decisive since the price will either recoil from the trend or will break through it. We could see a false break before the Bank of England convenes so be careful. If the pound bounces back, the target is 1.5150, if it breaks: 1.5554. I’m not looking at it going any higher for the moment.

Source:: Short-term Trading Idea FX GBP/USD – Wait and See: Likely Rebound From or Break Through Trend

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