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GBP/USD Prepares to Test Channel Boundaries

Posted on August 24, 2009 at 17:30 in Trading Desk by Ryan O'Keefe

Howdy Folks,

Had a great time in this mornings webinar, I think we had nearly fifty people in the room today! I hope to see you all there next Monday! Tonight GBP/USD seems ready to test the lower boundary of the ascending channel that has been in place since late May. Personally the demand level I’m interested in watching is near $1.63. In my opinion if the channel is going to hold this demand level will be the Alamo. If not, look out below!

Best of luck,

Ryan

2 Responses to “GBP/USD Prepares to Test Channel Boundaries”

on 25 Aug 2009 at 8:07 am1Peter

Hi Ryan. Any chance of a quick explanation how you would trade it, in either direction? Whether it breaks the channel or not. Thanks
on 26 Aug 2009 at 8:09 am2Sum

Very bad arrow

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