Friday 15 March 2013

GBP/USD 15 MARCH 2013



Price rallied and has retraced to the 786 of this swing, we will look for a sign of weakness in this area, although confidence is low. A sustained break of 5200 will have us believe that a base might be in place with a correction higher taking place. If nothing clear develops, stand aside.

Will be going long if:
No trade setups, we don’t have any criteria in place.

Will be going short if:
Price is at the 786, although we have no entries at present for a short trade. We need a clear bearish cs formation for a short entry. Else stand aside.

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