GBP/USD" title="Spot GBP/USD" src="https://d1-invdn-com.akamaized.net/content/picc7f59156231ab071ea864e35ea326b37.png" height="339" width="985">
The GBP/USD did continue lower as expected. For a buying opportunity at 1.5990/5980 to exit shorts and try longs as we look for a low for the day, with stops below 1.5960. This trade worked perfectly as we bottomed exactly here at 1.5987. We reached 1.6032 and will want to take at least some profit from here up to 1.6055/6060. If we continue higher look for 1.6100/20 to exit remaining longs. We should struggle here with a high for the day likely, but a break higher allows a retest of last week’s high at 1.6147/6163 for a selling opportunity with stops above 1.6178.
Watch support at 1.5990/5980 closely again today as a break lower would then risk a slide to 1.5940 before excellent support at 1.5890/5880 for our next buying opportunity with stops below 1.5850.
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GBP/USD Forecast: September 23, 2013
Published 09/23/2013, 02:55 AM
Updated 07/09/2023, 06:31 AM
GBP/USD Forecast: September 23, 2013
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