JavidTrader

GBPUSD trendline resistance

FX:GBPUSD   BRITISH POUND / U.S. DOLLAR
After the recent decline on #GBPUSD to the weekly 200 moving average, price is now facing the daily trendline resistance. A failure here may take price back down to the recent lows while a breakout may provide reason for further strength.

Although current pricing is indicating weakness as price is below the trendline , near term price has been in a range so as is our preference, we will wait for a breakout with our trend to confirm a trade.
20141124 - Price remains below the trendline and we are still looking to add further positions if price breaks below the recent lows.
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20141111 - In a mini consolidation since the recent weakness from the trendline resistance.
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