Wednesday, October 16, 2013

GBP / USD: WEDNESDAY 16TH OCTOBER 2013. 14:52HRS

GBP / USD:

Cable is in an up trend.

Chart below:

 

 
Price has pulled back and is supported above 1.5900.
 
Price has this morning broken up through the averages and I am looking for a long position as detailed below.
 
Levels and chart below:
 
1st Entry: 1.6005
2nd Entry: 1.5990
 
Averaged Entry: 1.5997
 
Stop Loss: 1.5960
 
Target: 1.6182
 
 

 
I will update again should the position be opened.
 
 
 

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