GBP/USD Analysis 09|20|2006 NEW YORK

NEW YORK

Pair Analyzed: GBP/USD
Time Frame Used: 1D
Prevailing Sentiment: Neutral (sideline)
Platform: GFT DealBook 360 (new)
Date of Analysis: 09/20/2006

Trade Execution Ideas:
Execute as a Real position with an entry @ 1.8867 + and absolute exit @ 1.9000. Targets for this trade can be configured @ T1 1.8909, T2 1.8972, T3 1.9000. Stop loss can be configured @ 1.8838. Please keep in mind that stop loss configurations should be executed as money management rules suggest.

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

Supporting Technicals:

Chikou Span Support Considerations:
Support Level 1: 1.8809
Support Level 2: 1.8762

Chikou Span Resistance Considerations:
Resistance Level 1: 1.8867
Resistance Level 2: 1.8909

Kumo and Price Relationship:
Price is currently Over prevailing Kumo

Kumo Strength:
Strong

Noteable Support and Resistance Considerations:
Price is “hovering” between the Kijun and Tenkan-sen on the 1D caher and above the prevailing Kumo. If the single pair can find a close above the 1.8867 threshold the pair could climb to previous 1.9000+ highs…

News Provided By:
n/a

Analyst Notes:
Though this pair is showing a great deal of upside potential, it has been almost “unchanged” in the short term. entering a trade on this pair in it’s current condition makes it hard to issue a reliable SL without risking capital. A close above the 1.8867 zone on the 2H chart would give us a solid entry with a SL below 1.8830

Chart Study

Sponsors:

To Discuss This Analysis You Need Skype! Get It Here!

Skype