Trade Idea Wrap-up: GBP/USD – Hold short entered at 1.4550

By | June 7, 2010

Despite intra-day cross-inspired rise to 1.4563, as cable has retreated from there, retaining our bearishness and consolidation with downside bias remains, break of the Tenkan-Sen (now at 1.4476) would suggest the rebound from 1.4388 has possibly ended there, then weakness to 1.4450 would be seen but only below said support would indicate the decline from 1.4771 top has resumed for test of previous spike support at 1.4360.

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