Hourly Forex Trading Strategy #GBP – Pressure on the Key 1.6425 Pivot.
Posted by Steve on 9 January, 2012
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This item was filled under [ Charting Strategies ]
Pressure on the key 1.6425 pivot point must be absorbed with a rally over 1.6555 and more importantly the 1.6625 pivot point to reset the uptrend with the potential for the original 1.6860 target. As 1.6555 contains, be wary of a loss of 1.6425 to extend the decline to the 1.6300-1.6350 range to complete the first leg of the new downtrend. As Cable is prone to consolidation tops expect another 1.67 attempt. (Ref: 5666)