Tuesday 5 July 2011

GBP/USD DAILY FORECAST 5 JULY 2011


GBP/USD
There were no trade setups yesterday.
Price has come just shy of the 786 on this AB upswing. We can buy a bullish cs formation and trade it to the BF786. We will sell if price reaches the BF786 after we get a bearish cs formation.

SHORT: WILL ONLY BE GOING SHORT IF:
We get to the BF786 and get a bearish cs formation, trade this to the A since we have a 786 prior.

LONG: WILL ONLY BE GOING LONG TODAY IF:
We get a bullish cs formation from current levels, trade it to the BF786 as a PT.

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