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Long trade initiated on the 1.8295 breakout is off its highs and overbought
intraday. We have raised the stop profit again to just below hrly support at
1.8400. We are watching the July 15 and 16 highs at 1.8475 as the next crucial
resistance and will take profits ahead of our 1.8490 target if we see a stall
there. Dailies are bullish. (RD) [19:41 GMT]
end
[1.8407] 21:00 GMT FRI 06 AUG
| [ GBP/USD TRADING PAGE ]
| [SPOT] |[TECHNICAL SIGNIFICANCE] |[RECOMMENDATION] | [POSITION]
: 1.8550(M) |failure high Jul 21 |flat on a failure | [
: 1.8530(M) |61.8% of 1.8775 - 1.8130 |flat on a failure
: 1.8495(M) |Jul 20 low, Jul 22 high |take profit, buy break | 1.8475(M) |dly low Jul 15, 16 |flat on a failure
: | TIME 13 26|
: 1.8400(M) |hrly low Aug 6 |sell stops below | |
: 1.8335(M) |daily high Aug 2 |buy a bounce |TGT |1.8495
: 1.8295(M) |failure high Aug 5 |buy a bounce |Stop|1.8390
: 1.8200(M) |pullback low Aug 6 |buy a bounce |
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[IFR Forex Watch]
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