GBP/USD Analysis 09|14|2006 NEW YORK

NEW YORK

Pair Analyzed: GBP/USD
Time Frame Used: 1D
Prevailing Sentiment: Bull (buy)
Platform: GFT DealBook 360 (new)
Date of Analysis: 09/14/2006

Trade Execution Ideas:
Execute as a Real position with an entry @ 1.8854+ and absolute exit @ 1.9056 1D LT. Targets for this trade can be configured @ T1 1.8909, T2 1.8972, T3 1.9000. Stop loss can be configured @ 1.8796. Please keep in mind that stop loss configurations should be executed as money management rules suggest.

Prevailing Signals:
Tenkan-Sen/Kijun-Sen Cross Bull,Senkou Span A/B Cross Bull,Price/Kijun-Sen Cross Bull,Chikou Span/Price Cross Bear

Supporting Technicals:

Chikou Span Support Considerations:
Support Level 1: 1.8854
Support Level 2: 1.8806

Chikou Span Resistance Considerations:
Resistance Level 1: 1.8909
Resistance Level 2: 1.8972

Kumo and Price Relationship:
Price is currently Over prevailing Kumo

Kumo Strength:
Moderate

Noteable Support and Resistance Considerations:
This pair is traveling through a Kimo on the 4H that should not hold the pair in lower ranges…

News Provided By:
GFT

A higher Gbp/Usd and Nzd/Usd led the way through the European morning. The Chf also enjoyed some upside versus the Euro and Usd ahead of the expected 25 basis points SNB rates hike to come.

Analyst Notes:
This is an intereting trade. I actually enteredthe trade last night after a conversation with Ian Boersma of 5Lines Forex, we descoverd a classic Tenkan-sen Kijun-sen cross on this pair that if strong enough would produce a Kijun-sen cross… with percision the pair executed both over night and during the London session… actual execution should have happened above 1.8805… This one is good for quite a few pips set the trade target = .9000+!

Chart Study (coming)

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