The daily and 4-hour timeframes are in agreement on the GBPUSD uptrend. We have a minor pullback from the 1.6300 top which is yet to test the 38.2% fibo level at 1.6052 however the bullish pin on the 4h chart with confluence of an important swing high (bearish pin bar on Oct.15) offers a setup for a long trade.
GBP/USD: minor pullback against the uptrend
This entry was posted on Tuesday, November 9th, 2010 at 10:49 am and tagged with fibonacci, GBPUSD, pullback, setup and posted in trading note. You can follow any responses to this entry through the RSS 2.0 feed.
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