Trade Idea Update: GBP/USD – Hold short entered at 1.5050

Cable’s rebound after intra-day selloff to 1.4949 suggests caution on our short position entered at 1.5050 and the Kijun-Sen (now at 1.5070) must hold to retain our bearish view for the decline from 1.5241 top to resume, break of said support would extend weakness towards 1.4899 (38.2% Fibonacci retracement of

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Trade Idea Update: GBP/USD – Hold short entered at 1.5050

Tags: kijun, short

This entry was posted on Monday, July 12th, 2010 at 6:45 am and is filed under Action Forex News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.