Trade Setups for This Week: GBP/USD, GOLD and S&P 500
Posted: Sun May 01, 2016 9:12 am
GBP/USD – sterling/dollar continues to show its strength
The GBP/USD has been very strong since finding a near-term bottom down at 1.4050 back in early April. Since then, price has risen up to a high of 1.4670 last week, reflecting the conviction of buyers in this market right now. We have been looking to buy this pair in recent weeks to trade in-line with this bullish momentum and we will retain that view this week. Should price rotate lower, to the downside, we will watch for price action signals on the 1 hour, 4 hour or daily chart time frame to ... (read more)