I really feel good to have a daily range well over 100 pips that was not directly driven by news.7440 level is now much more important as we add a last nights high to the growing list of reasons to take it. That’s just a little too aggressive especially with the volatility starting to increase..
Cable appears to moving once again.7048. Cable has turned outlook consolidative first but upside should be limited by 1.
Do not attempt to use this information as trading advice in any way whatsoever.
The 1.7440 level only really had two reasons to take it, and was only 14 pips away from the close of the previous days trading close. Learn to be an independent trader and control your own future.
Now, go ahead and take a look at what trading activity transpired in the session following when this article was written.744 resistance and bring fall resumption.
We feel the resistance should holds below 1. It is this fact that we will try to exploit in our looks back at Forex trading. Forex trading, like any other skill, can be improved with research and education.
OK, let’s get to the trading.
Remember, this article was written well before you are actually reading it. This way, we have a good outlook on the trend in the both the long and short term. By the time you read this, our support and resistance levels will have changed. We fell short of getting in our trades last night, there just was no real bounce before the down move.
That being said, the Combiners greatest asset for research is hindsight.
Getting the proper forex trading education, to be able to recognize that adjustments should be made, and more importantly understand how to make those adjustments, is the best way to survive and thrive in this or any kind of market. Use this information as a tool only.
I look forward to hearing your thoughts and comments.
In our technical analysis, we use time frames ranging from weekly to hourly. Remember, in Forex trading, history tends to repeat itself.
So, hopefully, you have been keeping up with my looks back on the Forex markets.7420 without news to push it Circulators past, and we will expect the price action to resume its downward move towards 1. The symbol for cable is usually represented as GBP/USD. Hopefully, it went my way.