Trade Setups For This Week: GBP/USD, Gold and S&P500
Posted: Sun Sep 18, 2016 6:49 am
GBP/USD – sterling/dollar bears continue to push price lower
The GBP/USD remains in a sustained long-term downtrend with plenty of over-head pressure to keep it contained this week. Notice that price sold off last Friday following several days of slow movement sideways to lower after an inside bar pattern from September 7th up near 1.3375 resistance. We discussed that inside bar as a selling opportunity several times recently in our commentaries and we have remained bearish biased for months. Downside potential remains under 1.3375 this week, traders not already short can look for selling opportunities on any temporary retraces to the ... (read more)