Sabi
Short

GBPUSD Summary & Trade Ideas

FX:GBPUSD   British Pound / U.S. Dollar
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FX:GBPUSD

The GBPUSD has recently been flirting with it's 2015 low which is now acting as a solid level of resistance. The pair does however seem to be receiving a little bit of support from a trend channel going back to late 2015.

Take shorts below the 2015 low with an initial target set at the bottom of the Jan dip, after that we'll head into the 1.37000 territory.

I'd like to point out that we have further commentary from the Fed Chair Janet Yellen today (15:00GMT) which could create a fair bit of volatility , so be mindful when it comes to placing your stops.

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