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GBP/USD Nears Long Term Channel Support

Jamie Saettele, CMT

DailyFX.com -

Daily

GBP/USD Nears Long Term Channel Support
GBP/USD Nears Long Term Channel Support

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“Obviously, trading risk is higher than normal given the UK referendum on staying/leaving the EU.” Understatement. GBP/USD realized its largest 1 day decline ever on Friday. Technically, multiyear channel support is just under the market and could inspire a bounce into former support in the 1.3800-1.4000 area.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk


original source

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